• EUR/USD inched higher on Monday as concerns over a failed coup attempt in Turkey eased increasing demand for European currencies.
   
• The pair rose to hit high at 1.1082 before retreating slightly to trade at 1.072 in the afternoon US session.
   
• However, further upside is expected to be limited as the pair faces strong resistance at 1.1166  which should limit upside and bring decline back towards lower side.
   
• To the upside, the immediate resistance can be seen at 1.1077, a break above will take the pair towards next resistance level at 1.1115.
   
• To the downside immediate support can be seen at 1.1040 levels, a break below will open gates towards 1.0991 levels.
  
  Resistance Levels
  
  R1: 1.1077 (50% Retracement level)
  
  R2: 1.1115 (61.8% Retracement level)
  
  R3: 1.1166  (July14th high)
  
  Support Levels
  
  S1: 1.1040 (38.2% Retracement level)
  
  S2: 1.0991 (23.6% Retracement level)
  
  S3: 1.0912 (24th June Lows)