Investing.com - The Australian dollar held steady at fresh five-and-a-half year lows against its U.S. counterpart on Monday, as market sentiment weakened broadly after anti-austerity Syriza party won Greek elections on Sunday.
AUD/USD hit 0.7859 during early European trade, the pair's lowest since July 2009; the pair subsequently consolidated at 0.7908.
The pair was likely to find support at 0.7700 and resistance at 0.8053, Friday's high.
Investors remained cautious as Syriza's victory sparked concerns over Greece's future in the euro zone.
Party leader Alexis Tsipras has pledged to renegotiate the terms of Greece's €240 billion bailout and reverse many of the austerity measures imposed by the European Union and International Monetary Fund.
The Aussie was also lower against the euro, with EUR/AUD gaining 0.41% to 1.4215.
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