• The EUR /USD pair declined on Wednesday as dollar rose across the board after the Federal Reserve raised interest rates and signal a faster past of hikes next year.
   
• The Fed raised interest rates by a quarter point and signaled a faster pace of increases in 2017 as the Trump administration takes over with promises to boost growth through tax cuts, spending and deregulation.
   
• The ongoing weakness is set to continue for this pair as the resistance level at 1.0644 is likely to act as strong barrier to the bulls and bring a further decline towards lower levels.
   
• To the upside, the immediate resistance can be seen at 1.0596, a break above this level would expose the pair to next resistance level at 1.0644.
   
• To the downside, immediate support can be seen at 1.0554, a break below at this level will open the door towards next level at 1.0522.
  
  Resistance Levels
  
  R1:  1.0596 (50% Retracement level)       
  
  R2: 1.0644 (61.8% Retracement level)    
  
  R3: 1.0700 (Psychological levels)
  
  Support Levels
  
  S1: 1.0554 (38.2% Retracement level)                    
  
  S2: 1.0522 (Dec 12th lows lows)
  
  S3: 1.0488 (23.6% Retracement level)