The Australian dollar extended yesterday's downtrend against its Canadian counterpart in early European deals on Wednesday.
The aussie fell below the key 0.99 level against the Canadian dollar around 2:50 am ET and was holding on that level since then.
The next downside target level for the aussie-kiwi pair is seen at 0.9885, its May 31st low and a move below that level could set its weakest mark in more than 2-years.
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