Australian Dollar Retreats Against Majors

The Australian dollar retreated from recent highs against other major currencies in the Asian session on Monday.

The Australian dollar fell to 1.5948 against the euro and 88.26 against the yen, from recent highs of 1.5870 and 89.23, respectively.

Against the U.S. and the Canadian dollars, the aussie dropped to 0.6689 and 0.9179 from recent near 2-week high of 0.6730 and near 3-week high of 0.9214, respectively.

The aussie edged down to 1.0697 against the NZ dollar, from a recent high of 1.0728. Earlier in the session, the aussie fell to nearly a 3-month low of 1.0673.

If the aussie extends its downtrend, it is likely to find support around 1.60 against the euro, 86.00 against the yen, 0.63 against the greenback, 0.90 against the loonie and 1.05 against the kiwi.

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