We currently see AUDUSD dropping further despite not much price action in either direction after the release of the FED meeting minutes. This is because as expected from Powell's Post FED meeting Speech on the 31.07 the minutes indicated there would be no further rate cuts going forward. This coupled with the presumption that the CBA would be forced to cut rates again twice this year due to the weakness of the Australian economy and the US putting 10% tariffs on Chinese goods from December. Therefore we see AUD/USD falling below 0.67 towards the 0.66821 support level.
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