Euro Slides Against Majors

The European currency weakened against other major currencies in the European session on Thursday.

The euro fell to a 6-day low of 1.0919 against the U.S. dollar and more than a 3-week low of 160.59 against the yen, from early highs of 1.0984 and 161.53, respectively.

Moving away from early highs of 0.8651 against the pound and 0.9587 against the Swiss franc, the euro dropped to a 1-1/2-month low of 0.8618 and a 1-month low of 0.9552, respectively.

Against the Australia, the New Zealand and the Canadian dollars, the euro dropped to more than a 3-week low of 1.6491, a 1-1/2-month low of 1.7717 and a 2-week low of 1.4854 from early highs of 1.6587, 1.7836 and 1.4924, respectively.

If the euro extends its downtrend, it is likely to find support around 1.07 against the greenback, 157.00 against the yen, 0.85 against the pound, 0.93 against the franc, 1.63 against the aussie, 1.74 against the kiwi and 1.46 against the loonie.