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Australian Dollar Slides To 7-week Low Against Canadian Dollar

12/24/2012 8:58 AM ET

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 RTT Staff Writer

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