• The EUR /USD pair declined on Monday as dollar regained some ground after being hit by a poor wages report last week and political uncertainty ahead France's presidential election weighted on Euro.
   
• Investors were largely focused on French politics, as far-right National Front leader Marine Le Pen launched her presidential bid, vowing to fight globalization and take France out of the euro zone.
   
• The ongoing weakness is set to continue for this pair as the resistance level at 1.0826 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 1.0766, a break above this level would expose the pair to next resistance level at 1.0800.
   
• To the downside, immediate support can be seen at 1.0706, a break below at this level will open the door towards next level at 1.0658.
  
  Resistance Levels
  
  R1:  1.0766 (50% Retracement level)       
  
  R2: 1.0800 (Psychological levels)               
  
  R3: 1.0826 (61.8% Retracement level)
  
  Support Levels
  
  S1: 1.0706 (38.2% Retracement level)                    
  
  S2: 1.0658 (Jan 27th lows)
  
  S3: 1.0630 (23.6% Retracement level)