The Australian dollar is slightly lower after hitting a six-month high early on Saturday morning.
The currency steadily rose last week, in anticipation of, and following, the US Federal Reserve's announcement of a third round of an economic stimulus program call quantitative easing (QE).
At 0700 AEST on Monday, the Australian dollar was at 105.55 US cents, down from 105.85 cents on Friday.
Since 1700 AEST on Friday, the local unit has traded between 105.47 US cents and 106.26 cents, its highest level since March 20.
Over the weekend, the euro peaked at a four-month high of 131.34 US cents.
Westpac New Zealand senior market strategist Imre Speizer said the Australian dollar had fallen as traders took profits following a six-day rally.
"I have not seen any fresh news to cause the shift," he said from Auckland.
"All asset classes did the same, whether it was the euro or equities.
"This leg of the rally has stalled amid profit taking and it should resume and we will see it over the next week or so at about 106.50 US cents."
Mr Speizer said currency markets would now await Tuesday's release of the minutes of the Reserve Bank of Australia's September board meeting where it kept the cash rate at 3.5 per cent for the third month in a row.