• EUR/USD initially declined in the European session but recovered strongly in the US session to trade at 1.1217 levels as Deutsche Bank stocks rose and investors assessed a set of economic data.
   
• Euro was weighted down in the European session after Deutsche Bank shares touched an all-time low on worries about the financial stability of the largest German lender.
   
• However, further upside in this pair should be limited as the resistance level at 1.1280 levels should limit upside and bring a decline towards lower levels.
   
• To the upside, immediate resistance can be seen at 1.1221, a break above will take the pair towards next resistance level at 1.1250.
   
• To the downside, immediate support can be seen at 1.1178 levels, a break below will open gates towards 1.1152 levels.
  
  
  Resistance Levels
  
  R1: 1.1221 (Session high)
  
  R2: 1.1250 (61.8% Retracement level)
  
  R3: 1.1280 (Sep 26th high)
  
  Support Levels
  
  S1: 1.1178 (38.2% Retracement level)
  
  S2: 1.1152 (Daily lows)
  
  S3: 1.1100 (Psychological levels)