EUR/USD hovers above 1.1300 ahead of US data

The US dollar continues to underperform major peers in a quiet environment ahead of Fed's Yellen speech at Jackson Hole on Friday.

EUR/USD climbed to a peak of 1.1354 during the European session, supported by Eurozone PMI data and a broadly weaker dollar. However, the pair failed to break above that level and pulled back, having spent the last hours in a slim range. At time of writing, the pair is trading at  1.1340, up 0.19% on the day.

During the North American session, the US will release August Markit manufacturing PMI and Richmond Fed manufacturing index, as well as July new home sales.

EUR/USD technical levels

As for technical levels, next resistances are seen at 1.1365 (Aug 18 high), 1.1400 (psychological level) and 1.1427 (Jun 24 high). On the other hand, supports could be faced at 1.1270 (Aug 22 low), 1.1225 (100-day SMA) and  1.1200 (psychological level).