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AUDUSD: Daily Analysis update & Forecast

The Australian and New Zealand dollars took a breather on Monday after a recent rally to almost five-month highs stalled, with sentiment dented by the pushback from some Federal Reserve officials on imminent rate cuts.

The Aussie AUDUSD was hovering at $0.6695, after meeting heavy resistance at its 4-1/2 month top of $0.6728, a level that it has failed to breach twice in the past two sessions. It has surged more than 7% from its 2023 low of $0.6271 in October and could be subject to some consolidation nearing the year end.

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