"AUD/USD Rebound Offers Bearish Opportunity Amidst Rate Cut Prospects"
TL;DR Summary
The Australian dollar faces challenges as the RBA is expected to maintain its cash target, with market expectations leaning towards a potential rate cut by June. The currency's performance is also tied to developments in China, but with limited prospects for change in the near term. From a technical standpoint, the AUD/USD pair has formed a head-and-shoulders pattern, indicating a potential decline towards 0.6200, with the October low offering some support amidst a generally unfavorable outlook.
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