>The pair found some bullish movement, after German ZEW Economic Sentiment, and Eurozone's trade balance figures were released from European market. However, the pair's gain was limited around 1.1322 levels and the pair is turning downwards as it has failed to close above minor resistance located at 1.1325 levels.
>Retail Sales and Industrial Production are the key data set to be released from US market, which will add some volatility in the markets.
>To the upside, the strong resistance can be seen at 1.1354, a break above this level would take the pair towards next resistance level at 1.1373 levels.
>To the downside immediate support can be seen at 1.1286 levels, a break below this level will open the door towards next level at 1.1250.
Recommendation: Go short below 1.1350, targets 1.1280, 1.1250, SL 1.1390
Resistance Levels
R1: 1.1354 (38.2% Retracement level)
R2: 1.1373 (September 14th high)
R3: 1.1434 (23.6% Retracement level)
Support Levels
S1: 1.1286 (50% Retracement level)
S2: 1.1250 (September 11th lows)
S3: 1.1225 (61.8% Retracement level)
