EUR/USD through 1.1300 as dollar drops further

The selling mood around the greenback is gathering traction in the European morning, sending EUR/USD to the area of daily highs above 1.1300 the figure.

EUR/USD firmer ahead of Yellen

The pair is advancing for the second session in a row today, putting further distance from recent lows in the vicinity of 1.1240 in response to a continuation of the offered bias around the buck.

On the data front, EMU’s M3 Money Supply and Private Loans are due later, although the bulk of the markets’ attention will be on the Jackson Hole Symposium and the speech by Chair Yellen along with another estimate of US GDP for the second quarter.

EUR/USD levels to watch

The pair is now up 0.15% at 1.1299 and a breakout of 1.1357 (high Aug.23) would aim for 1.1434 (high Jun.24) and finally 1.1466 (high Apr.12). On the other hand, the immediate support aligns at 1.1242 (low Aug.24) followed by 1.1228 (2014-2016 support line) and finally 1.1179 (38.2% Fibo of May-June drop).