• The EUR/USD declined on Tuesday as demand for greenback increased ahead of a key two-day meeting of the U.S. Federal Reserve that is expected to deliver the second interest rate rise in a decade.
   
• The Fed meeting starts later in the day and markets have priced in a nearly 100 percent chance of a quarter percentage point increase.
   
• Further upside in this pair should be limited as the resistance level at 1.0690 should limit upside and bring towards lower levels.
   
• To the upside, immediate resistance can be seen at 1.0649, a break above this level would take the pair towards next resistance level at 1.0690.
   
• To the downside immediate support can be seen at 1.0597 levels, a break below this level will open the door towards next level at 1.0550.
  
  Resistance Levels
  
  R1: 1.0649 (50% Retracement level)
  
  R2: 1.0690 (Dec 2nd high)
  
  R3: 1.0745 (Nov  11th high)
  
  Support Levels
  
  S1: 1.0597 (38.2% Retracement level)
  
  S2: 1.0550 (23.6% Retracement level)
  
  S3: 1.0500 (Psychological levels)