• The EUR/USD rose higher on Wednesday as the single currency gained as political turmoil and weak economic data in the United States reduced expectations of aggressive interest rate rises this year.
   
• The dollar has taken a hit from solid euro zone economic data, a fall in U.S. yields on heightened turmoil in Washington and downbeat housing data.
   
• The euro climbed above $1.11 overnight, and hit $1.1128, its highest level since Nov. 9, in early US trading hours. It was last up 0.2 percent at $1.1127.
   
• The pair remains under bulls control unless until it trades above 1.1044 resistance level, therefore it is good to buy this pair on dips.
   
• To the upside, the strong resistance can be seen at 1.1200, a break above this level would take the pair towards next resistance level at 1.1239.
   
• To the downside immediate support can be seen at 1.1102 levels, a break below this level will open the door towards next level at 1.1044.
  
  Resistance Levels
  
  R1: 1.1163 (38.2% Retracement level)
  
  R2: 1.1200 (Psychological levels)
  
  R3: 1.1239 (23.6% Retracement level))
  
  Support Levels
  
  S1: 1.1102 (50% Retracement level)
  
  S2: 1.1044 (61.8% Retracement level)
  
  S3: 1.0973 (May 16th lows)