AUD/USD; The Australian dollar surged to a 2-week peak, as the greenback weakened on expectations for an aggressive cut in interest rates by the Federal Reserve next month. The Aussie trades 0.05 percent up at 0.6960, having hit a high of 0.6972 earlier, it’s highest since Jun. 10.
Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6925 (June 12 Low), a break below targets 0.6881 (May 24 Low). On the upside, resistance is located at 0.6994 (June 6 High), a break above could take it near 0.7022 (June 7 High).
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