The pair is consolidating in a relatively tight range after strong moves over the last several days.

The bias for the breakout is higher, with a break above 1.4450 indicating another swing up. Initial target is 1.4520 and beyond that 1.4600.

Corrections can still happen, thus a break below 1.4350 is likely to test the 1.4300 area. Further support is at 1.4260 and 1.4210.

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