FXStreet (Edinburgh) - The euro is battling to keep the 1.3600 handle vs. the greenback on Thursday, with the EUR/USD hovering over 1.3605/00 so far.
EUR/USD down from 1.3650
Spot is now accelerating the correction lower from yesterday’s peaks near 1.3650, putting the key barrier at 1.3600 to the test after higher US inflation figures measured by the Personal Consumption Expenditure during the month of May. Further US data also showed Initial Claims matching estimates at 312K in the week ended on June 20th, leaving the USD stance almost unchanged. “The release of the latest euro-zone inflation report for June may weigh on the euro in the week ahead if it reveals further evidence that disinflation pressures continue to build. However, downside risks for the euro appear only modest as the ECB is unlikely to announce further easing in the near-term”, assessed analysts at BTMU.
EUR/USD levels to watch
As of writing the pair is losing 0.12% at 1.3612 and a breach of 1.3583 (low Jun.24) would target 1.3574 (low Jun.23) en route to 1.3565 (low Jun.20). On the flip side, the initial hurdle lines up at 1.3651 (high Jun.25) followed by 1.3669 (high Jun.9) and finally 1.3672 (200-d MA).