RTTN:Australian Dollar Extends Slide Against Majors
(RTTNews) - The Australian dollar continued its free fall in early European deals Monday on risk-off selling amid lingering eurozone debt woes.
The Australian dollar depreciated 1.3 percent to reach a 4-day low of 1.3176 against the euro around 3:05 am ET Monday from early Asian session's 6-week high of 1.2997. On the downside, the aussie may find target around the 1.33 level.
The Australian dollar also extended its early Asian session's slide versus other major currencies at the beginning of the European session, hitting a fresh 1-month low of 1.0295 against the US dollar and more than a 3-week low of 79.29 against the yen around 3:05 am ET. If the aussie weakens further, it may find target levels at 1.0250 against the greenback and 78.90 versus the yen.
Against the New Zealand dollar, the Australian currency is presently trading at a 6-day low of 1.2659 after having touched a 4-day high of 1.2757 early in the Asian session. The next downside target level for the aussie-kiwi pair is likely to be seen at 1.2540.
