FX Empire Is Spot On With Their AUD/USD Analysis

The Australian Dollar finished lower on Friday. The currency also finished lower for the week as investors began pricing in a potential interest rate cut by the Reserve Bank of Australia as early as August. Early in the week, the RBA minutes mentioned it had discussed a rate cut. Mid-week, China announced better-than-expected GDP growth. Late in the week, Australian employment change beat the forecast. Nonetheless, the good news failed to generate enough buying interest to support a gain for the daily or week. The main trend is up according to the daily swing chart. A trade through .7206

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