AUD/USD faced its steepest weekly decline in four months, closing 1.84% lower at 0.6461, driven by a stronger US dollar following hawkish remarks from Fed Chair Jerome Powell. Meanwhile, Australia's mixed employment data and the RBA's commitment to controlling inflation suggest a delayed rate cut until May 2025. The currency pair is nearing critical support at 0.6360 - 0.6350, with a sustained break potentially leading to further declines towards the October 2022 low of 0.6170.
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