Australian, NZ Dollars Drop Against Majors

The Australian and NZ dollars slipped against their major counterparts in early European deals on Friday.

The kiwi weakened to a 1-1/2-year low of 0.6783 against the greenback, off its early 2-day high 0.6883.

The kiwi slipped to a 6-month low of 76.36 versus the yen, 3-day low of 1.1130 versus the Aussie and more than a 2-year low of 1.7386 against the euro, from its early highs of 77.51, 1.1043 and 1.7166, respectively.

Simultaneously, the aussie declined to near 5-month lows of 0.7542 versus the greenback and 84.87 versus the yen and a 1-1/2-year low of 1.5638 versus the euro, coming off from its early highs of 0.7608, 85.85 and 1.5504, respectively.

The aussie is likely to locate support around 0.66 against the greenback, 75.00 against the yen, 1.75 against the euro and 1.12 against the kiwi. The kiwi may possibly challenge support around 0.73 against the greenback, 83.00 against the yen and 1.58 against the euro.