Euro Retreats Against Majors

The euro retreated from recent highs against the other major currencies in the European session on Monday.

The euro fell to 1.0619 against the U.S. dollar, from an early 4-day high of 1.0651.

Against the yen and the pound, the euro slid to 114.98 and 0.8464 from early highs of 115.47 and 0.8489, respectively.

Against the Swiss franc, the euro dropped to 1.0667 from an early high of 1.0678.

Against the Australian and the New Zealand slipped to 1.3993 and 1.5136 from early highs of 1.4027 and 1.5186, respectively. This may be compared to an early 2-week low of 1.3982 against the aussie and nearly a 1-1/2-month low of 1.5095 against the kiwi.

The euro dropped to 1.4122 against the Canadian dollar, from an early 4-day high of 1.4160. This may be compared to an early 4-day low of 1.4114.

If the euro extends its downtrend, it is likely to find support around 1.05 against the greenback, 113.00 against the yen, 0.83 against the pound, 1.05 against the franc, 1.38 against the aussie, 1.49 against the kiwi and 1.39 against the loonie.