• The pair declined initially in the early US session hitting as low as 1.1190 levels. However, after short buying interest the pair has inched upwards towards 1.1223 levels.
   
• Further upside should be limited as the pair finds strong resistance at 1.1270 levels, which should limit upside and push the pair towards lower levels.
   
• Technically in the 1 hour chart the 55, 30 and 20 MA depicts a clear bearish slope above the current price action, the RSI is indicating towards downside at 43.
   
• To the upside, the strong resistance can be seen at 1.1270, a break above will take the pair towards next resistance level at 1.1340.
   
• To the downside immediate support can be seen 1.1187 levels, a break below will open gates towards 1.1163 levels.
  
  Resistance Levels
  
  R1: 1.1240 (Session high)
  
  R2: 1.1270 (50% Retracement level)
  
  R3: 1.1340 (March 17th  high)
  
  Support Levels
  
  S1: 1.1187 (Daily lows)
  
  S2: 1.1163 (38.2% Retracement level)
  
  S3: 1.1100 (Psychological levels)