• EUR/USD declined on Thursday as sellers stepped in as appetite for riskier assets improved with the rise in oil prices.
   
• Euro was also weighted down by worries over euro zone banks, and a sluggish global economy more generally, have been fuelled by signs that money managers are considering hoarding cash in bank vaults, given the lack of return on capital.
   
• The currency pair is trading at 1.1315 levels, it is expected to reach 1.1270 levels and 1.1240 levels in the short term.
   
• To the upside, the strong resistance can be seen at 1.1375, a break above this level would take the pair towards next resistance level at 1.1416.
   
• To the downside immediate support can be seen at 1.1292 levels, a break below this level will open the door towards next level at 1.1255.
  
  Resistance Levels
  
  R1: 1.1337 (38.2% Retracement level)
  
  R2: 1.1375 (50% Retracement level)
  
  R3: 1.1416 (61.8% Retracement level)
  
  Support Levels
  
  S1: 1.1292 (23.6% Retracement level)
  
  S2: 1.1255 (May 18th low)
  
  S3: 1.1200 (Psychological levels)