The AUD/USD pair has recovered losses and is currently trading largely unchanged on the day even though an auction of Australian debt missed the target. The currency pair is currently trading at 0.6856, having hit a low of 0.6844 in the early Asian hours. The currency pair could pick up a strong bid if the US durable goods data, scheduled for release at 12:30 GMT, prints well below estimates, strengthening the case for Federal Reserve rate cuts.