The pair traded in a very tight range on Friday, which will likely result in a pop out of that tight range today. Since the range is so narrow (95.03-94.59=43 pips approx.) it is likely we will see a move on both sides of the range. In early trading this week, action has stayed within this tight range.

A break above 95.10 is likely to target 95.50. 95.70 is the resistance beyond.

A break below 94.55 will target 94.15. Support beyond this is at 93.85.

Forex Analysis by Dr. Sivaraman at ForexPros. com. For more details about Forex Trading and Tips for decent earnings through Forex Trading, Please check Forexpros. com