Australian Dollar Slides To 4-week Low Against Euro

The Australian dollar extended its post-RBA slide against the euro ahead of Tuesday's London session, hitting nearly the key 1.2850 support level for the first time since April 4.

On the downside, the aussie may find target level at 1.2880 in the near-term and a further downtrend could pull the domestic unit back below the psychologically important level of 1.29 for the first time in more than 4-months.