• EUR /USD declined sharply on Friday, after US retail sales data printed better than expected figures at 1.3%. Immediately after the data release the pair declined almost 50 pips.
   
• Currently the pair is trading around 1.1294 levels and it is expected decline further towards 1.1250 and 1.1200 levels in the short term.
   
• Short pullback around 1.1300 should be taken as selling opportunities, as Euro is weaker against the US dollar in intraday trading.
   
• To the upside, the strong resistance can be seen at 1.1314, a break above this level would take it to upside to next resistance level at 1.1376.
   
• To the downside immediate support can be seen at 1.1276, a break below this level will take the pair to next level at 1.1252 levels.
  
  Resistance Levels
  
  R1: 1.1294 (50% Retracement level)
  
  R2: 1.1314 (61.8% Retracement level)
  
  R3: 1.1375 (Daily high)
  
  Support Levels
  
  S1: 1.1276 (38.2% Retracement level)
  
  S2: 1.1252 (23.6% Retracement level)
  
  S3: 1.1214 (April 25th lows)