EUR/USD struggles below 1.2600

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EUR/USD struggles below 1.2600

FITITOL--> FXstreet.com (Barcelona) - EUR/USD is currently at 1.2596 off fresh session highs ahead of RBA cash rate statement at 1.2607, coming from yesterday's lows at 1.2568. Local share markets are on the rise over all, with Hang-Seng up by +1.53%. RBA left rates unchanged at 3.5%.

London session ahead will only bring EU PPI on monthly basis at 09:00 GMT, with no major EZ sovereign debt auctions to take place today but short term € 4B on sell from the Netherlands at 06:00 GMT. Italy 10y yields dropped below the 6% level last at 5.75%, while Spanish one yields around 6.4%.

Immediate support to the downside for EUR/USD shows at yesterday and June 19 lows 1.2568, followed by June 18 lows at 1.2557, and Thursday's highs at 1.2525. To the upside, closest resistance comes at recent session highs 1.2607, followed by June 14 highs/May 18 lows at 1.2640, and Jan 11 lows at 1.2660.