EUR/USD Slides Below 1.1100 Ahead of Jackson Hole Symposium
EUR/USD has declined 0.4% to trade below 1.1100 as the dollar stages a comeback from recent lows near the 98.00 handle on the DXY. The pair's weakness comes after the greenback endured significant selling pressure in early August, with traders now repositioning ahead of the Jackson Hole Economic Symposium. Technical analysis shows the pair breaking below key support levels, with immediate support now at 1.1050 and resistance at 1.1150. The euro faces additional headwinds from sluggish European economic data and expectations that the ECB may need to maintain accommodative policies longer than anticipated. Market participants are closely watching for any signals from Fed officials regarding the pace of future monetary policy adjustments. A hawkish surprise from Powell could accelerate EUR/USD's decline toward the 1.1000 psychological level.
Related Symbols:
EURUSD
DXY
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