We investigate the decay of pair correlation functions in a homogeneous (bulk) binary mixture of hard spheres. At a given state point the asymptotic decay r-->infinity of all three correlation functions is governed by a common exponential decay length and a common wavelength of oscillations. Provided the mixture is sufficiently asymmetric, size ratios qless than or similar to0.7, we find that the common wavelength reflects either the size of the small or that of the big spheres. By analyzing the (complex) poles of the partial structure factors we find a sharp structural crossover line in the phase diagram. On one side of this line the common wavelength is approximately the diameter of the smaller sized spheres whereas on the other side it is approximately the diameter of the bigger ones; the wavelength of the longest ranged oscillations changes discontinuously at the structural crossover line. Using density functional theory and Monte Carlo simulations we show that structural crossover also manifests itself in the intermediate range behavior of the pair correlation functions and we comment on the relevance of this observation for real (colloidal) mixtures. In highly asymmetric mixtures, qless than or equal to0.1, where there is metastable fluid-fluid transition, we find a Fisher-Widom line with two branches. This line separates a region of the phase diagram where the decay of pair correlations is oscillatory from one in which it is monotonic. (C) 2004 American Institute of Physics.