The euro traded in a narrow range against the US dollar on Tuesday, in proximity to session highs, following the consumer confidence data, released from the Euro zone earlier.
EUR/USD reached a new session high at 1.3212 at 14:42 GMT. Support was likely to be found at July 22nd low, 1.3133, while resistance was to be met at June 21st high, 1.3253.
Earlier on Tuesday it became clear that consumer confidence in the Euro zone improved for the eight month in a row in July, reaching its highest point since July 2011. The indicator rose to -17.4 in July from -18.8 in June, while initial estimates showed a smaller increase to -18.3. In July 2011 consumer confidence pointed a value of -11.
Meanwhile, the dollar remained broadly weak after on Monday an official report showed Existing Home Sales in the United States recorded an unexpected drop in June, decreasing by 1.2% to a seasonally adjusted annual level of 5.08 million units.
Market players began focusing on the series of PMI indexes in manufacturing and services in the Euro zones largest economies and the PMI manufacturing index in the United States.
Elsewhere, the euro traded higher against the British pound, as EUR/GBP cross added 0.20% today to 0.8603 at 14:59 GMT. Additionally, EUR/JPY pair advanced as well, increasing by 0.34% for the day to 131.88 at 15:00 GMT.
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