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AUDUSD consolidate on daily lower levels

AUDUSD was down on Monday after testing the high level of 0.6480 in the last trading session as The Australian dollar stabilized above $0.645 on Monday, supported by a hawkish view on Reserve Bank of Australia monetary policy. Last week, RBA Governor Michele Bullock stated that interest rates are sufficiently restrictive and will remain at current levels until the central bank gains confidence in the inflation outlook. Investors are now looking ahead to the release of the latest RBA meeting minutes this week for further guidance on the central bank’s policy direction.