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EUR/USD supported at 1.2640

FXStreet (Edinburgh) - The current EUR weakness seems to have found some buying interest in the vicinity of 1.2640, with EUR/USD now attempting to partially trim earlier losses.

EUR/USD hurt by data, USD

A revitalized demand for the greenback is punishing the risk associated universe in the first half of the week, dragging spot from yesterday’s peaks in the 1.2770 region. Weaker than expected data from the euro area (lower CPI results in some euro zone members and softer ZEW) and Germany are not helping the EUR either, although the pair succeeds in keeping the trade well above the 1.2600 handle so far. No further data are expected in the region, with only the NFIB Business Optimistic index due across the pond.

EUR/USD levels to watch

At the moment the pair is retreating 0.80% at 1.2650 with the next support at 1.2648 (200-h MA) followed by 1.2605 (low Oct.10) and then 1.2583 (low Oct.7). On the upside, a breakout of 1.2791 (high Oct.9) would expose 1.2802 (30-d MA) and finally 1.2816 (low Sep.22).

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