The EUR/USD pair has remained above the 1.1100 level, despite facing downward pressure. The US Dollar has gained strength due to higher US Treasury yields and uncertainty surrounding the Federal Reserve’s monetary policy stance.

The upcoming Jackson Hole Symposium will be a key event, with investors closely watching Federal Reserve Chair Jerome Powell’s speech for clues about the potential for interest rate cuts. The recent release of US economic data has shown mixed signals, with stronger-than-expected services PMI offsetting weaker manufacturing activity and higher jobless claims.

Technical Outlook

The EUR/USD pair is trading near a crucial support level at 1.1100. A break below this level could signal a potential downward move. However, the pair has shown resilience, and a recovery above 1.1100 would suggest a continuation of the bullish trend.