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• EUR/USD slipped lower on Monday as euro attracted sellers ahead of Thursday's European Central Bank's policy meeting.
• The ECB is anticipated to lower rates by 25 basis points to 3.50%, following the start of its rate-cutting cycle in July with a similar quarter-point cut.
• Investors have already fully factored in this rate cut, and their main focus will be on comments from ECB President Christine Lagarde about the likelihood of additional cuts in October and December.
•At GMT 13:55, the pair was trading down 0.33 percent at 1.1046, lowest level since 4th September.
• Immediate resistance is located at 1.1114(38.2%fib), any close above will push the pair towards 1.1157 ( Sep 6th high).
• Strong support is seen at 1.1032(50%fib) and break below could take the pair towards 1.1000 (Psychological level).
Recommendation: Good to sell around 1.1060 , with stop loss of 1.1120 and target price of 1.0920
