Forex - EUR/USD trading close to 3-day low after weak U.S. data

Forex Pros – The euro was trading close to a 3-day low against the U.S. dollar on Tuesday, after industry data showed that sales of previously owned U.S. homes unexpectedly slid in May.

EUR/USD hit 1.227 during European afternoon trade, shedding 0.34% after clawing back from a 3-day low of 1.2251. The pair was likely to find resistance at 1.2672, the high of May 21, and support at 1.2115, the low of June 14.

Earlier in the day, the National Association of Realtors said existing U.S. home sales were at a seasonally adjusted annual rate of 5.66 million units during the month, down from 5.79 million in April, whose figure was revised up from 5.77 million.

Economists had expected May's figure to come in at 6.1 million.

The euro was also down against the pound, with EUR/GBP shedding 0.56% to hit 0.8296.

Also Tuesday, Eurostat, the European statistics agency, said its consumer confidence index, where any level above zero indicates confidence, fell to -17 in June, following a drop of -18 in May.

Analysts had expected a fall of -19 in June.