- Euro declined against US dollar on Monday, after seller stepped in following Britain's decision to quit the European Union gathered pace as Brexit clouded the future of the rest of the bloc.
- Further gains should be limited as the resistance level at 1.1122 levels should limit upside and bring a decline towards lower levels in the short term.
- To the upside, the strong resistance can be seen at 1.1186, a break above this level would take the pair towards next resistance level at 1.1242.
- To the downside immediate support can be seen at 1.1000 levels, a break below this level will open the door towards next level at 1.1139.
Resistance Levels
R1: 1.1062 (50% Retracement level)
R2: 1.1122 (61.8% Retracement level)
R3: 1.1186 (June 24th high)
Support Levels
S1: 1.1000 (38.2% Retracement level)
S2: 1.0926 (23.6 Retracement level)
S3: 1.0864 (March 3rd lows)
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