• The EUR/USD pair declined slightly up to 1.1303 in the early US session after data showed a modest improvement in manufacturing activity, but the bears quickly faded as the pair inched back towards 1.1325 levels, reflecting a strong buying sentiment towards the common currency.
   
• The Philadelphia Manufacturing Index increased 5 points to a reading of 2.0 in August as more companies reported an increase in shipments. August marked the third positive reading for the index this year.
   
• The dollar slipped lower on Wednesday after minutes from the Federal Reserve's July meeting showed a bias among policymakers against raising interest rates soon.
   
• To the upside, the strong resistance can be seen at 1.1364, a break above will take the pair towards next resistance level at 1.1415.
   
• To the downside immediate support can be seen at 1.1293 levels, a break below will open the door towards next level at 1.1251.
  
  Resistance Levels
  
  R1: 1.1328 (50% Retracement level)
  
  R2: 1.1364 (61.8% Retracement level)
  
  R3: 1.1415 (June 8th high)
  
  Support Levels
  
  S1: 1.1293 (38.2% Retracement level)
  
  S2: 1.1251 (50% Retracement level)
  
  S3: 1.1200 (Psychological levels)