• The EUR /USD pair declined on Thursday as dollar gained some ground after stronger-than-expected U.S. economic data put the focus back on a widely anticipated increase in overnight interest rates by the Federal Reserve.
   
• New applications for U.S. jobless benefits unexpectedly fell last week and the number of Americans on unemployment rolls tumbled to a 28-1/2-year low, pointing to rapidly shrinking labor market slack.
   
• Initial claims for state unemployment benefits decreased 4,000 to a seasonally adjusted 232,000 for the week ended May 13, the Labor Department said. That pushed claims close to levels last seen in 1973.|
   
• However, further downside is expected to be limited as the dollar presents negative tone on uncertainty over the outlook for the Trump presidency.
   
• To the upside, the immediate resistance can be seen at 1.1170, a break above this level would expose the pair to next resistance level at 1.1200.
   
• To the downside, immediate support can be seen at 1.1104, a break below at this level will open the door towards next level at 1.1043.
  
  Resistance Levels
  
  R1:  1.1170 (38.2% Retracement level)   
  
  R2: 1.1200 (Psychological levels)               
  
  R3: 1.1248 (23.6% Retracement level)
  
  Support Levels
  
  S1: 1.1102 (50% Retracement level)                        
  
  S2: 1.1043 (61.8% Retracement level)
  
  S3: 1.1000 (Psychological levels)