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Short

AUD/USD Downtrend Channel on Hourly Chart

FX:AUDUSD   Australian Dollar/U.S. Dollar
548 0 1
The Australian dollar             remains pressured in the lower part of a the long term 1.0150 - 1.06 range. In the past few days, it has descended in a downtrend channel.

Inflation in Australia came out below expectations, raising the prospects of a rate cut, or at least pushing any potential rate hike back.

The pair could continue falling in the channel, challenging the bottom of the wide range.
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