The euro pared its pre-London session gains against the Australian dollar in early European deals Tuesday, falling to a 5-day low of 1.2370 around 4:30 am ET, down from a session's high of 1.2425.
The euro failed to pierce the 1.2435/40 resistance zone in the daily chart and the pair reversed direction after having advanced to a 3-week high of 1.2432 last week. Likely support for the cross is seen around the 1.2330 area.
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Forex News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.