• EUR declined against US dollar on Friday after data showed US home sales rose more than expected in April. 
   
• The pair extended its decline from 1.1237 to hit low at 1.1202 in the early US session.
   
• Further upside is expected to be limited as the pair faces strong resistance at 1.1293 which should limit upside and bring decline towards 1.1200 and 1.1150 levels in the short term.
   
• To the upside, the strong resistance can be seen at 1.1294, a break above will take the pair towards next resistance level at 1.1350.
   
• To the downside immediate support can be seen at 1.1178 levels, a break below will open gates towards 1.1138 levels.
  
  
  Resistance Levels
  
  R1: 1.1237 (50% Retracement level)
  
  R2: 1.1293 (61.8% Retracement level)
  
  R3: 1.1350 (May 17th high)
  
  Support Levels
  
  S1: 1.1178 (38.2% Retracement level)
  
  S2: 1.1138 (March 24th lows)
  
  S3: 1.1106 (23.6% Retracement level)