FxWirePro: EUR/USD key support at 1.1030, sell deals are recommended below 1.1070

• The pair has failed to break resistance level at 1.1070 and has retreated back to test support level at 1.1030 levels. The pair is expected to, fall further towards levels 1.0985 levels and later towards towards 1.0925 levels in the short term.

• Ahead in the day, US CPI data and FOMC Meetings are the main events, which will have significant impact on the markets. Traders should trade this pair with caution, as there will be high volatility in the market.

• To the upside, the strong resistance can be seen at 1.1074 (61.8% Retracement level), a break above this level would take the pair towards next resistance level at 1.1125 handle.

• To the downside immediate support can be seen at 1.1030 (50% Retracement level), a break below this level will open the door towards next level at 1.0984 (61.8% Retracement level).

Recommendation: Go short below 1.10 70, targets 1.1010, 1. 0985, SL 1.1140

Resistance Levels

R1: 1.1074(61.8% Retracement level)

R2: 1.1125 (Aug 17th high)

R3: 1.1190 (Aug 14th high)

Support Levels

S1: 1.1030 (50% Retracement level)

S2: 1.0984 (32.8% Retracement level) (61.8% Retracement level)

S3: 1.0959 (Aug 11^th lows)