Forexpros – The euro was down against the U.S. dollar on Wednesday, as renewed concerns over the handling of the euro zone debt crisis weighed on market sentiment.
EUR/USD hit 1.3542 during late Asian trade, the daily low; the pair subsequently consolidated at 1.3562, shedding 0.16%.
The pair was likely to find support at 1.3417, the low of September 23 and resistance at 1.3693, the high of September 12.
Demand for the single currency was hit as divisions formed in the euro zone over the terms of Greece’s second EUR109 bailout, with seven of the bloc’s 17 members arguing for private creditors to swallow a bigger write-down on their Greek bond holdings.
Meanwhile, Greece’s parliament approved a new property-tax law Tuesday evening, a key step to securing further aid from the country’s international lenders and to avoid default.
Later in the day, Finland was to hold a vote on a potential enhancement of the European Financial Stability Facility.
Elsewhere, the euro was down against the pound with EUR/GBP dropping 0.10%, to hit 0.8677.
Also Wednesday, a U.S. report on durable goods orders was to be released, while Federal Reserve Chairman Ben Bernanke was scheduled to speak later in the day.
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