• EUR /USD pair declined against US dollar Monday, after seller stepped in, following plunge in Eurozone Manufacturing PMI and Services PMI which suggested that Eurozone’s smaller member countries may be struggling.
   
• Further the gains should be limited as the resistance level at 1.1288 levels should limit upside and bring a decline towards lower levels.
   
• To the upside, the strong resistance can be seen at 1.1288, a break above this level would take the pair towards next resistance level at 1.1351.
   
• To the downside immediate support can be seen at 1.1177 levels, a break below this level will open the door towards next level at 1.1139.
  
  Resistance Levels
  
  R1: 1.1241 (50% Retracement level)
  
  R2: 1.1288 (61.8% Retracement level)
  
  R3: 1.1351 (May 17thhigh)
  
  Support Levels
  
  S1: 1.1177 (38.2% Retracement level)
  
  S2: 1.1139 (March 24th lows)
  
  S3: 1.1107 (23.6% Retracement level)