The AUDUSD experienced a significant decline during Friday's trading session, nearly touching the 0.66 level before witnessing a bounce-
Considering the current market conditions, it is likely that the range-bound behavior will continue, and a breakout is not expected unless a panic move occurs, favoring the US dollar as a safer asset.
A breakout from the established range would signal a more significant move in the market, potentially leading to a longer-term trading opportunity. As a commodity-dependent currency, the Australian dollar is highly sensitive to global growth trends and demand patterns, particularly those linked to China, a significant player in the commodity markets.
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