The Australian dollar has seen a significant decline against the U.S. dollar, to reach the lowest level in more than two months, following the release of trade balance in Australia during February, which recorded a deficit for the second month in a row.

Where the AUD/USD pair dropped to its lowest level at 1.0262 after opening the session at 1.0303, while against the AUD/JPY pair fell to its lowest level this week at the level of 84.79 after opening the session at 85.35.

The AUD/USD pair is facing a support level at 1.0250 and in the case of penetration of these areas; the pair may continue to decline to its first target at the level of 1.0100.