Investing.com – The euro erased gains against the U.S. dollar on Tuesday, hitting a fresh daily low amid rising risk aversion, following data which showed that U.S. consumer confidence fell in July.
EUR/USD hit 1.2961 during European afternoon trade, a fresh daily low; the pair subsequently consolidated at 1.2979, shedding 0.11%.
The pair was likely to find support at 1.2875, Monday's high and short-term resistance at 1.3094, the high of May 10.
Earlier in the day, data showed that consumer confidence in the U.S. declined for the third month in July.
In a report, the Conference Board, a market research group, said its index of consumer confidence fell to 50.4 in July, after dropping to 52.9 in June.
Analysts had expected the index to decline to 51.3 in July.
Meanwhile, separate data showed that U.S. house prices rose more-than-expected in May.
The euro was also down against the pound, with EUR/GBP shedding 0.39% to hit 0.8356.
Also Tuesday, data showed that Germany's consumer climate index advanced to 3.9 in July, its highest level since Oct. 2008, after rising to a revised 3.6 in June.
EUR/USD hit 1.2961 during European afternoon trade, a fresh daily low; the pair subsequently consolidated at 1.2979, shedding 0.11%.
The pair was likely to find support at 1.2875, Monday's high and short-term resistance at 1.3094, the high of May 10.
Earlier in the day, data showed that consumer confidence in the U.S. declined for the third month in July.
In a report, the Conference Board, a market research group, said its index of consumer confidence fell to 50.4 in July, after dropping to 52.9 in June.
Analysts had expected the index to decline to 51.3 in July.
Meanwhile, separate data showed that U.S. house prices rose more-than-expected in May.
The euro was also down against the pound, with EUR/GBP shedding 0.39% to hit 0.8356.
Also Tuesday, data showed that Germany's consumer climate index advanced to 3.9 in July, its highest level since Oct. 2008, after rising to a revised 3.6 in June.