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EUR/USD back below 1.2600

FXStreet (Córdoba) - EUR/USD failed to recover past the 1.2630 area and came under renewed pressure during the European session as investors await a series of US data, including the ADP employment report and the ISM PMI.

A string of mixed manufacturing PMI from the Eurozone failed to help the euro and put EUR/USD back on the defensive. The pair has fallen to a daily low of 1.2584 and keeps the 1.2570/60 support area in sight ahead of US data releases. At time of writing, EUR/USD is trading at 1.2590, recording a 0.32% loss on the day.

However, the cautious tone may prevail ahead of tomorrow European Central Bank decision and Friday's US nonfarm payrolls.

EUR/USD levels to watch

In terms of technical levels, EUR/USD could find immediate supports at 1.2560 (Sep 6 2012 low), 1.2500 (psychological level/Sept 5 2012 low) and 1.2493 (Aug 31 2012 low). On the other hand, resistances are seen at 1.2630 (intraday high), 1.2663 (Sept 29 low) and 1.2700/01 (psychological level/Sep 30 high).

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