Forex Pros – The euro gave up modest against the U.S. dollar on Tuesday, pulling back from a three-day high, amid growing nervousness ahead of a crucial Greek vote on austerity measures.
EUR/USD pulled back from 1.4328, the pair’s highest since June 23, to hit 1.4258 during European early afternoon trade, slipping 0.21%.
The pair was likely to find support at 1.4101, Monday’s low and a seven day low and resistance at 1.4305, Friday’s high.
Greece’s parliament was due to vote Wednesday on the EUR28.4 billion, five-year austerity package.
If the package is not approved, the European Union and International Monetary Fund have said they will not disburse the fifth tranche of Greece’s EUR110 billion bailout program, which could result in the euro zone’s first sovereign debt default.
The single currency remained supported amid reports that European Union officials were working on a contingency plan for Greece in case its parliament rejected the austerity program.
Meanwhile, the euro was up against the pound, with EUR/GBP easing up 0.08% to hit 0.8942.
Later in the day, the U.S. was to publish industry data on house price inflation, as well as a report on consumer confidence.
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