Investing.com - The euro remained moderately lower against the U.S. dollar in quiet trade on Wednesday, as investors remained cautious ahead of the Federal Reserve's highly-anticipated policy statement due later in the day.
EUR/USD hit 1.1224 during European afternoon trade, the session low; the pair subsequently consolidated at 1.1349, slipping 0.26%.
The pair was likely to find support at 1.1223, Tuesday's low and resistance at 1.1421, Tuesday's high.
Sentiment on the euro remained vulnerable in the wake of a sweeping election victory for the anti-austerity Syriza party in Greece on Sunday.
Markets were still jittery amid concerns over Syriza’s pledge to renegotiate the terms of Greece's €240 billion international bailout, which could cause the country to leave the euro zone.
Earlier Wednesday, the German research institute, Gfk said its Consumer Climate Index rose to 9.3 this month, above forecasts for 9.2 and up from a reading of 9.0 in December.
Meanwhile, investors were looking ahead to the outcome of Wednesday’s Fed meeting, with the bank expected to stick to its pledge to be patient on tightening monetary policy.
The euro was also lower against the pound, with EUR/GBP shedding 0.32% to 0.7466.