- The pair is currently trading around 1.0889 levels. It is expected decline further towards 1.0850 and later 1.0820.
- Short rally around 1.930 should be taken as advantage for selling opportunities, as Euro is weak against the US dollar in the short term.
- To the upside, the strong resistance can be seen at 1.0909, a break above this level would take it to upside to next resistance level at 1.0950(61.8% Retracement level).
- To the downside immediate support sits at 1.0868, a break below this level will take the pair to next level at 1.0820 (23.6% Retracement level).
Recommendation: Go short below 1.0900, targets 1.0850, 1. 0820, SL 1.1100
Resistance Levels
R1: 1.0899 (38.2% Retracement level)
R2: 1.0924
R3: 1.0950(61.8% Retracement level of 1.1030 to 1.0818)
Support Levels
S1: 1.0868
S2: 1.0840
S3: 1.0818


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