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AUDUSD fall in a Channel.

AUDUSD was down on Friday after testing the high level of 0.6495 in the last trading session as the Australian dollar traded around $0.645 on Friday and was set to lose nearly 2% over the week, weighed down by a strengthening US dollar amid expectations of fewer rate cuts from the Federal Reserve. This sentiment followed comments from Fed Chair Jerome Powell on Thursday, stating that the central bank is in no rush to reduce rates given the strength of the US economy. The Aussie also faced pressure this week from weaker commodity prices and ongoing concerns about China’s economic slowdown.