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Australian Dollar Slides To 7-week Low Against Canadian Dollar

The Australian dollar extended previous session's downtrend against its Canadian counterpart in early New York deals on Monday. The aussie reached 1.0316 against the Canadian dollar around 8:50 am ET, its weakest level since November 5.

The aussie-loonie pair is now trading well-below its 50-day simple moving average level with 1.0290 seen as the next likely support area, at which the 100-day SMA stands in the daily chart.

by RTTNews Staff Writer

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