The Australian and NZ dollars declined against their major counterparts in the Asian session on Monday, as Asian stock markets fell, tracking a sell-off on Wall Street, as the upbeat payrolls report intensified concerns over more aggressive rate hikes from the Federal Reserve.

Data from the Labor Department showed on Friday that nonfarm payrolls increased more than expected in September and the unemployment rate fell, raising the likelihood of ongoing interest rate increases in the near future.

Investors focus on the U.S. inflation data due later this week amid growing concerns about the outlook for interest rates.

Geopolitical tensions also returned to the fore after a powerful blast damaged Russia's road-and-rail bridge to Crimea.

Gold slipped on higher yields and a firmer dollar while oil prices slipped, after climbing on Friday following the OPEC's decision to cut output by 2 million barrels per day.

The aussie declined to a 2-1/2-year low of 0.6314 against the greenback and more than a 2-month low of 91.79 against the yen, off its early highs of 0.6380 and 92.77, respectively. The currency is likely to find support around 0.60 against the greenback and 86.00 against the yen.

The aussie fell to a 6-day low of 1.5402 against the euro and a 2-1/2-year low of 0.8683 against the loonie, from its prior highs of 1.5277 and 0.8752, respectively. The aussie is seen finding support around 1.57 against the euro and 0.83 against the loonie.

The aussie touched a 4-day low of 1.1290 against the kiwi, after rising to a 6-day high of 1.1371 at 5 pm ET. If the currency slides further, 1.09 is possibly seen as its next support level.

The kiwi weakened to near a 2-week low of 0.5586 against the greenback, 1-week low of 81.20 against the yen and a 5-day low of 1.7410 against the euro, down from its early highs of 0.5629, 81.85 and 1.7321, respectively. The next possible support for the kiwi is seen around 0.53 against the greenback, 79.00 against the yen and 1.78 against the euro.

Looking ahead, Eurozone Sentix investor confidence survey results for October are due at 4:30 am ET.

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