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Australian Dollar Falls Against Majors

The Australian dollar weakened against other major currencies in the Asian session on Thursday.

The Australian dollar fell to more than a 5-week low of 1.6736 against the euro and a 2-day low of 0.8643 against the Canadian dollar, from yesterday’s closing quotes of 1.6625 and 0.8690, respectively.

Against the U.S. dollar and the yen, the aussie slipped to 3-day lows of 0.6296 and 94.33 from Wednesday’s closing quotes of 0.6336 and 94.99, respectively.

The aussie edged down to 1.0794 against the NZ dollar, from yesterday’s closing value of 1.0820.

If the aussie extends its downtrend, it is likely to find support around 1.70 against the euro, 0.85 against the loonie, 0.61 against the greenback, 92.00 against the yen and 1.06 against the kiwi.

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