EUR /USD pair slipped lower higher against US dollar by hitting low at 1.1327 during mid-European hours. However, the pair made has made a short squeeze back to trade at 1.3395 levels after US session opened. The resistance level at 1.1404 is set to hold the bulls from advancing further, and bring a decline towards lower level, therefore it's good to sell this pair below 1.1400 levels.
- To the upside, the strong resistance can be seen at 1.1370, a break above this level would take the pair towards next resistance at 1.1400 (Psychological level).
- To the downside immediate support can be seen at 1.1315 levels, a break below this level will open the door towards next level at 1.1270.
Recommendation: Go short below 1.1400, targets 1.350, 1.1270, SL 1.1440
Resistance Levels
R1: 1.1404 (50% Retracement level)
R2: 1.1444 (Sep 17th high)
R3: 1.1476 (61.8% Retracement level)
Support Levels
S1: 1.1327 (38.2% Retracement level)
S2: 1.1280 (Sep 14th high)
S3: 1.1240 (23.6% Retracement level)
