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The euro drifted lower against its major counterparts in the early European session on Tuesday.

The euro hit a weekly low of 123.23 against the yen and near a 5-week low of 1.0843 against the Swiss franc, from its early highs of 124.40 and 1.0865, respectively.

The single currency edged down to 1.1242 against the greenback and a session's low of 0.8692 against the pound, off its previous highs of 1.1278 and 0.8731, respectively.

The European currency hit a 5-day low of 1.5128 against the loonie and near a 4-week low of 1.5683 against the kiwi, after having advanced to 1.5187 and 1.5804, respectively in early deals.

Reversing from an early high of 1.5110 against the aussie, the euro eased to 1.5027.

The next possible support for the euro is seen around 1.49 against the aussie, 1.50 against the loonie, 1.55 against the kiwi, 122.00 against the yen, 1.07 against the franc and 1.11 against the greenback.