EUR /USD pair made some gains against US dollar in early US session after US PPI and retail data printed negative figures, The however, the gains were limited and the pair fell back towards 1.1410levels after hitting resistance at 1. resistance level at 1.1460 levels is set to hold the bulls from advancing further, and bring a decline towards lower levels, therefore it's good to go short below 1.1440 levels.
- To the upside, the strong resistance can be seen at 1.1394, a break above this level would take the pair towards next resistance level at 1.1500(Psychological level).
- To the downside immediate support can be seen at 1.1181 levels, a break below this level will open the door towards next level at 1.1340.
Recommendation: Go short below 1.1440, targets 1.1400, 1.1370, SL 1.1490
Resistance Levels
R1: 1.1446 (Daily high)
R2: 1.1460 (23.6% Retracement level)
R3: 1.1560 (Aug 26th high)
Support Levels
S1: 1.1394 (38.2% Retracement level)
S2: 1.1340 (50% Retracement level)
S3: 1.1286 (61.8% Retracement level)
