• The EUR/USD pair declined up to 1.1371 in the early European session but the bears quickly faded as the pair inched back towards 1.1403 levels, reflecting a strong buying sentiment towards the common currency.
   
• The dollar gave back some ground last week as US central bankers remained cautious as risk remained from global economic growth and more cautious approach was undertaken.
   
• To the upside, the strong resistance can be seen at 1.1426, a break above will take the pair towards next resistance level at 1.1452.
   
• To the downside immediate support can be seen at 1.1387 levels, a break below will open the door towards next level at 1.1354.
  
  Resistance Levels
  
  R1: 1.1404 (61.8% Retracement level)
  
  R2: 1.1426 (Daily high)
  
  R3: 1.1452 (April 7th high)
  
  Support Levels
  
  S1: 1.1387 (38.2% Retracement level)
  
  S2: 1.1354 (50% Retracement level)
  
  S3: 1.0830 (61.8% Retracement level)