The Australian and NZ dollars fell against their major counterparts in the Asian session on Monday, as risk sentiment dampened following a warning from the U.S. about an imminent invasion of Russia into Ukraine.

A telephonic conversation between U.S. President Joe Biden and Russian President Vladimir Putin over the weekend failed to ease tensions, with Washington saying that there was "no fundamental change" to the worsening crisis.

Biden warned that the U.S. and its allies were prepared to respond "decisively and impose swift and severe costs" on Russia, if Putin launches an attack into Ukraine.

Russia said that the U.S. and NATO had failed to address its main security concerns, blaming the West of stoking hysteria over the Ukraine crisis.

German chancellor Olaf Scholz is traveling to Kyiv to find a diplomatic solution to the crisis. He will talk with Putin on Tuesday.

The aussie declined to 0.7111 against the greenback and 1.5944 against the euro, from its prior highs of 0.7150 and 1.5886, respectively. The next likely support for the aussie is seen around 0.70 against the greenback and 1.62 against the euro.

The aussie depreciated to a 6-day low of 0.9060 against the loonie, after rising to 0.9099 at 6:15 pm ET. The aussie is poised to challenge support around the 0.89 level.

Reversing from an early high of 82.65 against the yen, the aussie edged down to 82.03. Next immediate support for the aussie is seen near the 80.00 region.

After touching a 4-day high of 1.0766 in early trades, the aussie pulled back slightly against the kiwi and was trading at 1.0746. The aussie may find support around the 1.06 level, should it drops again.

The kiwi touched a 6-day low of 76.31 against the yen and a 1-week low of 0.6613 against the greenback, following its prior highs of 76.86 and 0.6650, respectively. The kiwi is seen challenging support around 74.00 against the yen and 0.65 against the greenback.

Easing from a high of 1.7053 set at 5:00 pm ET, the kiwi pulled back to 1.7153 against the euro. On the downside, 1.74 is possibly seen as its next support level.

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