FxWirePro: EUR/USD key resistance at 1.0900, sell deals are recommended around 1.0850

EUR/USD has lost some ground to dollar to trade around 1.0830 levels in the early US session after breaking below 1.0853 support level. The ongoing weakness is set to continue for this pair as the resistance level at 1.0900 is likely to act as strong barrier to the bulls and bring a further decline towards lower levels, therefore it's good to sell this pair around 1.0850 levels.

• To the upside, the strong resistance can be seen at 1.0900, a break above this level would take the pair towards next resistance level at 1.0968 levels.
   
• To the downside immediate support can be seen at 1.0804 levels, a break below this level will open the door towards next level at 1.0788.
  
  Recommendation: Go short around 1.0850, targets 1.0780, 1.0740, SL 1.0968
  
  Resistance Levels
  
  R1: 1.0853 (61.8% Retracement level)
  
  R2: 1.0900 (Psychological levels)
  
  R3: 1.0968 (Jan 11th high)
  
  Support Levels
  
  S1: 1.0804 (Daily lows)
  
  S2: 1.0788 (50% Retracement level)
  
  S3: 1.0768 (Jan 7th lows)