The Australian dollar weakened against the other major currencies in the early European session on Tuesday.
The Australian dollar fell to a 6-year low of 0.7424 against the U.S. dollar and a 5-month low of 1.4811 against the euro, from early highs of 0.7500 and 1.4707, respectively.
Against the yen and the Canadian dollar, the aussie dropped to 91.12 and 0.9427 from early highs of 92.01 and 0.9493, respectively.
If the aussie extends its downtrend, it is likely to find support around 0.73 against the greenback, 1.49 against the euro, 89.00 against the yen and 0.92 against the loonie.
The material has been provided by InstaForex Company – www.instaforex.com