RTTN:Euro Trades Near 5-week Low Against US Dollar
The euro extended previous session's downtrend against the US dollar in early European deals on Wednesday, falling back to below the key 1.2950 level for the first time since May 31.
The common currency has been trading lower since it touched a few pips above the pivotal 1.34 level in the middle of June and its next major support is seen around the 1.2850/55 area.
