Yesterday the pair tested and respected an old upward sloping trend line (broken last week), quickly retreating. In early trading today it has taken another run at the trend line and the highs for yesterday but has so far failed. This makes a further slide probable.

Initial support is at 133.40 and 133.10. A break below this level indicates a move for 132.50. Further support is at 132.00.

A rise above 135 is less likely, but will initially target 135.50. Target and resistance beyond is at 136.00.

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