FxWirePro: EUR/USD key resistance at 1.1280, sell deals are recommended below 1.1260

>EUR /USD pair made a strong bullish rebound towards 1.1280 levels yesterday, however  gains were capped around 1.1280 levels and the pair slipped from daily highs from 1.1280 levels to testing minor support level at 1.1192 in the early European session.

>Currently the pair is approaching resistance level at 1.1256 price zone and further gains should be limited around 1.1280 levels as the strong resistance level at 1.1280 is expected to block the pair from advancing further. Therefore its good sell this pair below 1.1280 levels. 

>To the upside, the strong resistance can be seen at 1.1280 (Sep 29th high), a break above this level would take the pair towards next resistance level at 1.1330.

>To the downside immediate support can be seen at 1.1207 levels, a break below this level will open the door towards next level at 1.1181 (Sep 21st lows).

Recommendation: Go short below 1.1260, targets 1.1200, 1.1160, SL 1.1340

Resistance Levels

R1: 1.1256 (50% Retracement level)

R2: 1.1280 (Sep 29th high)

R3: 1.1330 (Sep 21st high)

Support Levels

S1: 1.1207 (38.2% Retracement level)

S2: 1.1181 (Sep 21st lows)

S3: 1.1144 (23.6% Retracement level)