The pair is currently just above an important level between 1.4130-1.4120. A drop below , especially with confirmation from penetration of 1.4100, is likely to test 1.4050. The target and support beyond is at 1.4000.

A rise above 1.4180 indicates a move to test the downward sloping hourly trend line in the 1.4240 area. A break above indicates a long-term upward move, but will find resistance in the region of 1.4300.

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