• The EUR /USD pair declined sharply on Thursday as euro was weighed down by a stronger dollar as investors began to assess the potential for another U.S. rate hike later in the year, supported by data showing a strong U.S. jobs market.
   
• U.S. data on Thursday bolstered the case for higher rates, as the number of Americans filing for unemployment benefits fell more than expected last week, pointing to shrinking labour market slack.
   
• The U.S. Federal Reserve raised interest rates by a notch as expected on Wednesday and indicated further tightening before the end of the year.
   
• The ongoing weakness is set to continue for this pair as the resistance level at 1.1248 is likely to act as strong barrier to the bulls and bring a further decline towards lower levels.
   
• To the upside, the immediate resistance can be seen at 1.1186, a break above this level would expose the pair to next resistance level at 1.1248.
   
• To the downside, immediate support can be seen at 1.1124, a break below at this level will open the door towards next level at 1.1092.
  
  Resistance Levels
  
  R1:  1.1186 (50% Retracement level)       
  
  R2: 1.1248 (61.8% Retracement level)    
  
  R3: 1.1295 (June 14th high)
  
  Support Levels
  
  S1: 1.1124 (38.2% Retracement level)                    
  
  S2: 1.1092 (May 18th lows)
  
  S3: 1.1043 (23.6% Retracement level)