EUR/USD falters ahead of 1.1300

EUR/USD pulled back from daily highs at the beginning of the New York session as better-than-expected US economic data lent support to the dollar.

EUR/USD faltered ahead of the 1.13 mark and retreated from a daily peak of 1.1297, although overall it continues to trade within its weekly range, as investors refrain from taking big positions ahead of Yellen speech in Jackson Hole tomorrow.

On the data front, initial jobless claims and July’s durable goods orders exceeded market's expectations, while the advance Services PMI tracked by Markit for August disappointed.

EUR/USD levels to watch

In terms of technical levels, next resistances could be found at 1.1310 (Aug 24 high), 1.1365 (Aug 18 high), 1.1400 (psychological level) and 1.1427 (Jun 24 high). On the other hand, supports are seen at 1.1223 (100-day SMA), 1.1200/1.1198 (psychological level/20-day SMA) and 1.1143 (50-day SMA).