Forex - EUR/USD down on economic data

Forexpros - The Euro was lower against the U.S. Dollar on Wednesday after the release of U.S. data on Federal Budget Balance.



EUR/USD was trading at 1.4226, down 1.04% at time of writing.



The pair was likely to find support at 1.4070, Friday’s low, and resistance at 1.4426, Monday’s high.



Earlier in the day, official data showed that The U.S. federal budget balance fell less-than-expected to a seasonally adjusted -129.4B last month from -43.1B in the preceding month.



Analysts had expected U.S. federal budget balance to fall to -140.0B last month.



Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.14% to hit 0.8798 and EUR/JPY falling 1.26% to hit 109.24.