AUDUSD erases RBA rate cut induced losses

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Despite the fact that the RBA cut interest rates by 25bps to 2.25%, the Australian Dollar was quite bullish yesterday after trimming most of its losses from yesterday. Declining close to 2%, AUDUSD managed to recover from the lows of 0.7791. This low incidentally marks a previous support level which was strong enough to push prices higher. Of course, we would need to see a weekly close comforta...

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