• Greenback was hammered to seven month lows versus the euro on Monday, crashed over 300 pips
  
  
• EUR/USD spiked from 1.1400 levels on to as much as 1.1700 on Monday, witnessing a 300 pips move unwinding in the EUR/USD pair
  
  
• In the Asian session today, EUR/USD sliding lower as USD bulls jumped back in to the bids, trying fight back to take control 
  
  
• EUR/USD erased nearly one-thirds of previous day's spike and is currently trading at 1.1545,  hovering close to session lows reached at 1.1525
  
  
• If European equities recover later in the day, EUR/USD is likely to test support levels between 1.1440/70
  
  

Resistance Levels:

1.1604 (Session high Aug 25)

1.1622 (Session high Aug 25)

1.1651 (Day high Jan 22 2015)

Support Levels:

S1: 1.1530 (4h Tenkan Sen)

S2: 1.1523 (Day's low 25 Aug)

S3: 1.1500 (Psychological Level)