The euro weakened against the other major currencies in the Asian session on Tuesday.
The euro fell to more than a 2-year low of 1.2130 against the U.S. dollar and an 8-day low of 146.18 against the yen, from yesterday’s closing quotes of 1.2150 and 146.57, respectively.
Pulling away from early highs of 0.7839 against the pound, 1.2030 against the Swiss franc and 1.4957 against the Australian dollar, the euro edged down to 0.7821, 1.2027 and 1.4927, respectively.
Against the New Zealand and Canadian dollars, the euro slipped to a 3-month low of 1.5589 and a 4-day low of 1.4127 from early highs of 1.5629 and 1.4157, respectively.
If the euro extends its downtrend, it is likely to find support around 1.20 against the greenback, 144.15 against the yen, 0.77 against the pound, 1.19 against the Swiss franc, 1.48 against the aussie, 1.54 against the kiwi and 1.40 against the loonie.
The material has been provided by InstaForex Company – www.instaforex.com