FxWirePro:EUR/USD trades below 21-DMA,more downside expected

The EUR/USD pair traded in lower range on Tuesday as the pair attracted sellers on fears of possible Brexit from Eurozone.
 

• The ongoing weakness is set to continue for this pair as the resistance level at 1.1040 is likely to act as strong barrier to the bulls and bring a further decline towards lower levels, therefore it's good to sell this pair around 1.1040 levels.
   
• Technically the pair has extended its decline below its 9 DMA, the RSI in the 4 hour chart is indicating downwards at 33, meanwhile the 55, 30 and 20 MA's are pointing strong bearish momentum towards lower side. Overall the technical indicators are depicting further downtrend for this pair.
   
• To the upside, the strong resistance can be seen at 1.081, a break above will take the pair towards next resistance level at 1.1121.
   
• To the downside immediate support can be seen 1.0997 levels, a break below will open gates towards 1.0950 levels.
  
  Recommendation: Go short around 1.1040, targets 1.0950, 1.0900, SL 1.1100
  
  Resistance Levels
  
  R1: 1.1040 (61.8% Retracement level)
  
  R2: 1.081 (Daily high)
  
  R3: 1.1121 (Feb 19th high)
  
  Support Levels
  
  S1: 1.0997 (50% Retracement level)
  
  S2: 1.0950 (38.2% Retracement level)
  
  S3: 1.0900 (23.6% Retracement level)