Investing.com – The euro edged higher against the U.S. dollar on Tuesday, but gains were limited as concerns over sovereign debt issues in the euro zone and the U.S. kept risk appetite in check.
EUR/USD hit 1.3523 during late Asian trade, the daily high; the pair subsequently consolidated at 1.3516, rising 0.21%.
The pair was likely to find support at 1.3429, Monday’s low and resistance at 1.3613, the high of November 18.
In the U.S., ratings agency Fitch said the failure of a congressional "super committee" to agree on a package of measures to slash the U.S. deficit over the next 10 years was likely to lead to a revision of the rating outlook to Negative, rather than a downgrade.
Standard & Poor's said the news validated its decision to make its first U.S. credit downgrade in August.
Meanwhile, the euro found support after Greek Finance Minister Evangelos Venizelos said earlier that euro zone officials would make a decision regarding the next tranche of Greek aid as soon as November 29.
The euro was also slightly higher against the pound, with EUR/GBP easing up 0.11% to hit 0.8632.
Later Tuesday, the U.S. was to release preliminary data on gross domestic product, while the U.S. Federal Reserve was to publish the minutes of its November policy meeting.
EUR/USD hit 1.3523 during late Asian trade, the daily high; the pair subsequently consolidated at 1.3516, rising 0.21%.
The pair was likely to find support at 1.3429, Monday’s low and resistance at 1.3613, the high of November 18.
In the U.S., ratings agency Fitch said the failure of a congressional "super committee" to agree on a package of measures to slash the U.S. deficit over the next 10 years was likely to lead to a revision of the rating outlook to Negative, rather than a downgrade.
Standard & Poor's said the news validated its decision to make its first U.S. credit downgrade in August.
Meanwhile, the euro found support after Greek Finance Minister Evangelos Venizelos said earlier that euro zone officials would make a decision regarding the next tranche of Greek aid as soon as November 29.
The euro was also slightly higher against the pound, with EUR/GBP easing up 0.11% to hit 0.8632.
Later Tuesday, the U.S. was to release preliminary data on gross domestic product, while the U.S. Federal Reserve was to publish the minutes of its November policy meeting.