In yesterdays post I wrote that the pair had to push above 95.40 resistance in order to set up for a bullish move. It did not, and that has resulted in over a 100 pip dive so far.

Major support is a little ways away still at 93.80, which was a late May low. Support beyond that is at 93.50 and is expected to hold through the session if the pair continues to fall.

A bounce is likely off these support levels.

Resistance currently is at 94.50, 94.70 and 95.00. A move beyond 95.40 is unexpected today but would be favorable for a rise over the next few days.

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