Dollar Extends Downtrend Against European Majors

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Dollar Extends Downtrend Against European Majors

The US dollar extended its late Asian session downtrend against the major currencies of Europe in early deals on Tuesday.
The greenback fell as low as 1.2520 against the euro and 0.9589 against the Swiss franc by 6:15 am ET. If the dollar weakens further, likely support levels are seen at 1.2580 against the common currency and 0.9560 versus the alpine unit.
The dollar also declined to 1.5533 against the pound around 6:25 am ET. On the downside, the US currency may find target around the 1.5580 level.

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