FXstreet.com (Córdoba) - After hitting a fresh 8-month high above 1.3300, EUR/USD turned lower and retraced most of its intraday gains, weighed by US President Obama threaten to veto Republicans' plan B in negotiations to avoid the 'fiscal cliff'.

EUR/USD set a high of 1.3307 but failed to sustain gains and pulled back during the American afternoon as stocks turned negative in Wall Street. However, the setback of the euro versus the dollar was contained by the 1.3240 zone and the pair has spent the last hours in a pretty tight range just above the mentioned support.

At time of writing, EUR/USD is quoting at the 1.3245 area, still up 0.1% on the day. As for technical levels, below 1.3240 next supports could be found at 1.3200 (psychological level) and 1.3185 (Dec 17 high), while on the upside resistances are seen at 1.3307 (intraday high), 1.3350 and 1.3385 (Mar 27 high).