• EUR has made short squeeze against US dollar by hitting high at 1.1263 after negative Existing Home Sales.
   
• However, the gains should be limited around 1.1280 as the resistance level at 1.1300 is set to hold the bulls from advancing further, and bring a decline towards lower levels in the short term.
   
• To the upside, the strong resistance can be seen at 1.1300, a break above this level would take the pair towards next resistance level at 1.1360 levels.
   
• To the downside immediate support can be seen at 1.1233 levels, a break below this level will open the door towards next level at 1.1200.
  
  Resistance Levels
  
  R1: 1.1274 (38.2% Retracement level)
  
  R2: 1.1300 (Psychological levels)
  
  R3: 1.1360 (23.6% Retracement level)
  
  Support Levels
  
  S1: 1.1233 (Daily lows)
  
  S2: 1.1200 (50% Retracement level)
  
  S3: 1.1130 (61.8% Retracement level)