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Australian Dollar trims gains after Bullock’s hawkish tone

The AUD/USD pair trades near 0.7140 on Thursday as the US Dollar (USD) regains traction following the latest labor market data, while traders continue to assess remarks from Reserve Bank of Australia (RBA) Governor Michele Bullock.

🔗 Source

💡 DMK Insight

The AUD/USD pair’s proximity to 0.7140 signals a critical juncture for traders as the USD strengthens post-labor data. With the US labor market showing resilience, the dollar’s uptick could pressure the Aussie, especially if RBA Governor Bullock’s comments hint at a dovish stance. Traders should keep an eye on the 0.7100 support level; a break below could trigger further selling. Conversely, if Bullock’s remarks suggest a more hawkish outlook, we could see a bounce back towards 0.7200. The interplay between US economic indicators and RBA policy will be key in shaping the next moves. Look for volatility around these levels, particularly if any unexpected data releases occur in the coming days.

📮 Takeaway

Watch the 0.7100 support level closely; a break could lead to further downside in AUD/USD, while bullish RBA signals might push it back towards 0.7200.

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