Australian Dollar Slips To 6-day Low Against Greenback

Australian Dollar Slips To 6-day Low Against Greenback


The Australian dollar extended previous session's downtrend against its US counterpart in early European deals on Tuesday. The aussie reached a 6-day low of 1.0429 against the US dollar around 3:30 am ET, compared to 1.0478 hit late New York Monday.
Technical standpoint is quite bearish for the pair as it rightly reversed from its key resistance zone of 1.0600/30 area last week. A double-top reversal formation in the daily chart signals further selling with 1.0320 seen as the next likely support level.