Reversing direction, the euro declined against its major rivals in early European deals on Wednesday.

The single currency fell to a 5-day low of 1.6188 against the kiwi, more than 5-month low of 1.4122 against the loonie and near 5-month low of 1.4617 against the aussie, reversing from its prior highs of 1.6261, 1.4209 and 1.4698, respectively.

The European currency declined to a 2-day low of 1.0606 against greenback and a 7-month low of 130.04 against the yen, coming off from its early 5-day high of 1.0689 and a 2-day high of 130.76, respectively.

The euro pared gains to 0.7033 against the pound and 1.0825 against the franc, from its prior highs of 0.7080 and 1.0847, respectively.

The euro may locate support around 1.05 against the greenback, 129.00 against the yen, 0.68 against the pound, 1.06 against the franc, 1.44 against the aussie, 1.60 against the kiwi and 1.40 against the loonie.

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