FxWirePro: EUR/USD above 1.11 handle, fresh bids at lows stall downside

EUR/USD recovers to trade above the 1.11 handle as fresh bids emerged for the pair near lows, pushing the pair higher.

• The pair remains pressured on rising expectations for Dec QE extension/expansion after Thursday's ECB meet
   
• EUR/USD dived to two-month lows at 1.1076 in early Asia, and is rebounding from the solid support at trend-line by 1.1100 
   
• A close below 200-DMA at 1.1121 on the day cloud see further downside to 1.1016 levels, further below major channel support at 1.0820 
   
• On the upside immediate resistance is located at 1.1177 (Sept 7 high) ahead of 1.12 
   
• Later in the day Euro area October flash PMIs will be a focal point, while the major will track the sentiment across equities

Resistance Levels:

R1: 1.1121 (200 DMA)
R2: 1.1177 (Sept 7 high) 
R3: 1.12 

Support levels:

S1: 1.11 (trend-line support)
S2: 1.1016 (Double bottom Aug 18,19)
S3: 1.0820 (major channel support)