FXStreet (Edinburgh) - The single currency is intensifying its intraday decline on Thursday, pushing the EUR/USD to challenge the critical support at 1.3600.



EUR/USD weaker ahead of US data



The pair continues to weaken ahead of the US weekly report on the labour market (Initial Claims at 310K exp.) and the inflation figures gauged by the PCE, against a backdrop of generalized improvement in the USD. “With US Treasury yields between 6 and 10bps lower than prior to the Fed's announcement, it would take a massive upside surprise in the PCE data set to defy the markets' current views stance on interest rates and, consequently, push the USD higher on the day”, observed Shaun Osborne, Chief FX Strategist at TD Securities.



EUR/USD levels to consider



As of writing the pair is losing 0.13% at 1.3610 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).



Related Articles
  1. Forex

    The Pros and Cons of a Fully Convertible Rupee

    Amid the rising economic power of India, the talks of making the Indian currency fully convertible are gaining momentum. We look at the pros and cons.
  2. Forex Fundamentals

    Chinese Yuan an Unlikely Reserve Currency

    As the world's second largest economy, China's challenge to America’s dominance includes a push to make the yuan (RMB), the world’s reserve currency. Whether it can do that now is unclear.
  3. Economics

    How Currency Enforcement Helped Sink The Trans-Pacific Partnership (TTP)

    One particular barrier to trade that has received much attention of late and caused delays in negotiations of the TPP is exchange-rate manipulation, by which a country artificially devalues its ...
  4. Forex

    Top U.S Forex News Sites

    Breaking news moves forex markets. Here are the top U.S. sites for tracking forex news.
  5. Investing

    Financial News Comparison: Bloomberg Vs. Reuters

    Access to financial information has grown with the expansion of digital news. Bloomberg and Thomson Reuters lead the pack, claiming a majority of the business information market.
  6. Economics

    Who Benefits From South Korea's Lowered Interest Rates?

    South Korea is the latest country to cut interest rates in an attempt to stimulate economic growth.
  7. Forex Education

    The Top Uses For P2P Currency Exchange

    Peer-to-peer (P2P) currency exchange networks offer a viable and cheaper alternative for buying and selling currencies.
  8. Forex

    Steps To Open An Offshore Forex Account

    Here is a simple breakdown of how to open an offshore forex account for US-based users, including legal requirements.
  9. Entrepreneurship

    Top Forex Trading Apps

    A brief overview of the top apps that help forex traders with on time information, charts and more.
  10. Investing Basics

    The Risks Of Buying Bitcoin

    Virtual currency is probably here to stay, but what about Bitcoin specifically? Does it have a first-to-market advantage? What are the risks involved?
RELATED TERMS
  1. No results found.

You May Also Like

COMPANIES IN THIS ARTICLE
Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!