FxWirePro: EUR/USD dips below lower range, bearish bias increases

• The EUR /USD pair declined on Tuesday as dollar shook off early weakness to rise to more than a one-week high, after data showed U.S. job openings surging to a record high in June.
   
• The Labor Department said on Tuesday that job openings, a measure of labor demand, increased 461,000 to a seasonally adjusted 6.2 million, the highest level since the series started in December 2000.
   
• The greenback steadied against a basket of six currencies and held firm above levels it sank to last week. The dollar index was up 0.34 percent to 93.745. The euro was down 0.43 percent to $1.1758.
   
• The ongoing weakness is set to continue for this pair as the resistance level at 1.1819 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 1.1778, a break above this level would expose the pair to next resistance level at 1.1819.
   
• To the downside, immediate support can be seen at 1.1739, a break below at this level will open the door towards next level at 1.1689.
  
  Resistance Levels
  
  R1:  1.1778 (50% Retracement level)       
  
  R2: 1.1819 (61.8% Retracement level)    
  
  R3: 1.1846 (July 31st high)
  
  Support Levels
  
  S1: 1.1739 (38.2% Retracement level)                    
  
  S2: 1.1689 (23.6% Retracement level)
  
  S3: 1.1663 (July 28th low)

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