AUD/USD: The Australian dollar declined as its U.S. counterpart surged on expectations for a smaller U.S. Federal Reserve rate cut next week. The Aussie trades 0.2 percent down at 0.7018, having hit a high of 0.7082 on Friday, it’s highest since Apr. 24.
Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6996 (July 17 Low), a break below targets 0.6953 (July 11 Low). On the upside, resistance is located at 0.7091 (Mar 12 High), a break above could take it near 0.7147 (Mar 26 High).
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