Euro Slides Against Majors

The euro weakened against the other major currencies in the early European session on Friday.

The euro fell to a 4-day low of 1.0826 against the U.S. dollar and a 3-day low of 0.7309 against the pound, from early highs of 1.0895 and 0.7332, respectively.

Pulling away from early highs of 129.85 against the yen and 1.3614 against the Canadian dollar, the euro dropped to 1-week lows of 129.24 and 1.3546, respectively.

Against the Australia and New Zealand dollars, the euro slipped to 1.3893 and 1.4309 from early highs of 1.3962 and 1.4370, respectively. The euro may be compared to early 2-days low of 1.3875 against the aussie and 1.4273 against the kiwi.

The euro edged down to 1.0478 against the Swiss franc, from an early high of 1.0506.

If the euro extends its downtrend, it is likely to find support around 1.05 against the greenback, 0.71 against the pound, 126.50 against the yen, 1.33 against the loonie, 1.36 against the aussie, 1.41 against the kiwi and 1.01 against the franc.