EUR/USD fails above 1.2600

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EUR/USD fails above 1.2600

FITITOL--> FXstreet.com (Barcelona) - EUR/USD is currently at 1.2590, off session lows at 1.2581, falling from the very start of the Asia-Pacific trade around the 1.2605, resuming the slide from yesterday's highs at 1.2626 by early NY. Slightly lower since started following a mild sell off when Tokyo opened, the pair is about flat from yesterday's Asia-Pacific open, and down -0.59% for the week so far. Local share markets are modestly in the green, while US futures are flat.

Focused on key ECB event coming Thursday, and with the US closed today for holiday, the London session ahead brings a soft agenda in EUR macro data related, starting with Germany selling € 4B worth in bonds at 06:00 GMT, followed by Italian services PMI at 07:45 GMT, final EU services PMI 15 minutes later, and EU retail sales and final GDP 1 hour later. Services PMI for the UK at 08:30 could bring some volatility to EUR/GBP. Spain's 10y yield closed yesterday at 6.25%.

Immediate support to the downside fo r EUR/USD comes at recent session lows 1.2580, followed by Monday's lows at 1.2568, and June 19/yesterday's lows at 1.2560, while for the upside closest resistance show at Monday's London session lows/yesterday's London session highs at 1.2610, followed by yesterday's highs at 1.2630, and June 20 lows at 1.2640.