EUR/USD remains lower as U.S. fiscal concerns weigh

The euro remained lower against the U.S. dollar in subdued trade on Monday, as concerns final U.S. budget negotiations will fail weighed on risk sentiment.
EUR/USD hit 1.3176 during early European trade, the session low; the pair subsequently consolidated at 13182, falling 0.26%.
The pair was likely to find support at 1.3144, the low of December 17 and resistance at 1.3256, the high of December 28.
Market players remained focused on developments surrounding the fiscal cliff in the U.S., approximately USD600 billion in automatic tax hikes and spending cuts due to come into effect on January 1 unless Democrats and Republicans agree how to cut the deficit.