FXA and the Aussie also face an array of technical hurdles, issues that could be exacerbated by more RBA rate cuts.
“We see the December Australian Dollar heading toward the 0.6923 low from earlier this month. This could be seen as an important level in the near-term, as a lower close would continue the pattern of lower highs and lower lows. A rebound off this level could be viewed as positive near-term. On the upside, closing above the 0.7250 mark may be interpreted a reversal,” according to Options Express.
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