Australian dollar declines against Major Currencies

During Tuesday’s Asian trading session, the Australian dollar weakened when compared to other leading currencies.

It dropped to an 8-day low of 1.0850 against the New Zealand dollar, down from its recent peak of 1.0892.

Against the Japanese yen, the Aussie slipped to 92.95, having fallen from a 5-day high of 93.85.

When measured against the U.S. dollar and the Canadian dollar, the Aussie eased to 0.6423 and 0.8968 respectively, compared to recent highs of 0.6455 and 0.9010.

Additionally, against the euro, the Aussie declined to 1.7512 from a previous high of 1.7390.

If the Aussie continues its downward trend, support may be found at around 1.07 against the New Zealand dollar, 91.00 against the yen, 0.62 against the U.S. dollar, 0.88 against the Canadian dollar, and 1.77 against the euro.