The EUR rose in early trading and is currently testing the 1.4050 resistance level, which is a former support level.

A push through 1.4050 would indicate a test of 1.4100 and beyond that
1.4140. Beyond that, 1.4175 should hold through the session.

A pullback below 1.4000 would likely hit some support at 1.3960 and if it continues to fall could see further resistance at 1.3925. Little stands in the way of further declines until the 1.3850 level.

News out of the US at 1230 GMT could mean a larger than average daily range today.

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