• The pair found bullish momentum yesterday and closed above 1.1000 psychological levels, as the negative US GPD figures yesterday weakened the dollar giving gains back to euro. The pair is inching higher and is approaching to test resistance level at 1.1030. However, the upside should be limited around 1.1060 and the pair is set to flatter further below in the short term. Therefore its good to sell this pair on rallies.
  
  
• To the upside, the strong resistance can be seen at 1.1098, a break above this level would take the pair towards next resistance level at 1.1139 handle.
  
  
• To the downside immediate support can be seen at 1.0996, a break below this level will open the door towards next level at 1.0946.
  
  Recommendation: Go short below 1.1060, targets 1.0980, 1. 0950, SL 1.0100
  
  Resistance Levels
  
  R1: 1.1030 (38.2% Retracement level)
  
  R2: 1.1098 (50% Retracement level)
  
  R3: 1.1139 (October 10th high)
  
  Support Levels
  
  S1: 1.0996 (October 23rd lows)
  
  S2: 1.0946 (23.6% Retracement level)
  
  S3: 1.0895 (October 28th lows)