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Forex - AUD/USD falls to 6-year lows after Greek referendum

Published 07/06/2015, 02:39 AM
Updated 07/06/2015, 02:39 AM
Aussie hits 6-year lows vs. greenback as Greece vote hits sentiment

Investing.com - The Australian dollar fell to six-year lows against its U.S. counterpart on Monday, as market sentiment was broadly hit after Greek voters rejected conditions of a rescue package from creditors on Sunday.

AUD/USD hit 0.7464 during late Asian trade, the pair's lowest since May 2009; the pair subsequently consolidated at 0.7505, slipping 0.15%.

The pair was likely to find support at 0.7239 and resistance at 0.7649, Friday's high.

Risk sentiment was hit after the "No" camp's strong victory on Sunday sparked concerns over a potential Greek banking collapse that could force the country out of the euro zone.

Without more emergency funding from the European Central Bank, Greece's banks could run out of cash within days.

Officials from the Greek government immediately said they would try to restart talks with European partners. German Chancellor Angela Merkel and French President Francois Hollande were set to meet in Paris on Monday afternoon.

In Australia, data earlier showed that job advertisements rose by 1.3% last month after a 0.1% uptick in May, whose figure was revised from a previously estimated flat reading.

The Aussie was higher against the euro, with EUR/AUD sliding 0.41% to 1.4734.

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