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

The Australian dollar fell to a 5-day low of 1.4733 against the euro and a 2-day low of 0.7458 against the U.S. dollar, from an early 9-day high of 1.4526 and an 8-day high of 0.7565, respectively.

Against the yen, the aussie dropped to 78.81 from an early 2-day high of 79.57.

The aussie slipped to a 2-day low of 0.9839 against the Canadian dollar, from an early high of 0.9955.

Against the NZ dollar, the aussie edged down to 1.0633 from an early 2-day high of 1.0723. This may be compared to an early 1-week low of 1.0624.

If the aussie extends its downtrend, it is likely to find support around 1.49 against the euro, 0.73 against the greenback, 74.00 against the yen, 0.96 against the loonie and 1.03 against the kiwi.

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