Australian Dollar Retreats Against Majors

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

The Australian dollar fell to a 2-day low of 86.24 against the yen, from an early high of 86.55.

Against the NZ dollar, the aussie dropped to 1.0900 from an early 10-month high of 1.0926.

Against the U.S. dollar, the euro and the Canadian dollar, the aussie slipped to 0.7587, 1.3920 and 1.0179 from early highs of 0.7609, 1.3929 and 1.0198, respectively.

If the aussie extends its downtrend, it is likely to find support around 85.00 against the yen, 1.07 against the kiwi, 0.74 against the greenback, 1.42 against the euro and 0.99 against the loonie.

The material has been provided by InstaForex Company – www.instaforex.com

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