The U.S. dollar retreated from its early gains in the early European session on Tuesday.
Pulling away from an early more than 2-year highs of 1.2123 against the euro and 0.9918 against the Swiss franc, the greenback edged down to 1.2186 and 0.9867, respectively.
The greenback fell to near 2-week lows of 119.17 against the yen and 0.8172 against the Australian dollar, from early highs of 120.67 and 0.8121, respectively.
Against the New Zealand and Canadian dollars, the greenback slipped to a 2-week low of 0.7822 and a 1-week low of 1.1650 from early highs of 0.7770 and 1.1621, respectively.
The greenback edged up to 1.5543 against the pound, from an early 1-week high of 1.5500.
If the U.S. dollar extends its downtrend, it is likely to find support around 1.23 against the euro, 1.08 against the Swiss franc, 115.39 against the yen, 0.82 against the aussie, 0.79 against the kiwi, 1.168 against the loonie and 1.56 against the pound.
The material has been provided by InstaForex Company – www.instaforex.com