FxWirePro: EUR/USD key resistance level at 1.1567, sell deals are recommended below 1.15460

• EUR /USD fell back from 1.1560 levels,  after  riding high on china's economic woes. The pair has started to decline after failing to break resistance at  1.1567 levels , and is moving downwards to test next support  level located at 1.1388 (Aug 25^th Lows).

• The pair is trading around 1.1414 levels and it is expected decline towards 1.1370 and 1.1300 levels in the short term.

• To the upside, the strong resistance can be seen at 1.1567(Aug 26th high), a break above this level would take the pair towards next resistance level at 1.1620 (Aug 25th high).

• To the downside immediate support can be seen at 1.1388, a break below this level will open the door towards next level at 1.1363.

Recommendation: Go short below 1.1460, targets 1.1370, 1.1330, SL 1.1575

Resistance Levels

R1: 1.1444 (61.8% Retracement level of 1.1711 and 1.1007)

R2: 1.1567(Aug 26th high)

R3: 1.1620 (Aug 25th high)

Support Levels

S1: 1.1388 (Aug 25^th Lows)

S2: 1.1363 (38.2% Retracement level)

S3: 1.1184 (23.6% Retracement level)