AUD/USD +0.2% Fri, stays bid as RBA reiterates higher-for-longer rate stance

RBA Governor Michele Bullock says it's too soon to think about rate cuts

Diverging RBA-Fed rate stance likely to support AUD on dips

90 bps of RBA cuts only priced by end-2025 vs 95 bps of Fed cuts by end-2024

Risk rally and revival of carry trade demand also underpins AUD

But concerns over China's floundering economy cap AUD gains currently

Support 0.6575-80, 0.6550-55, resistance 0.6640-45, 0.6690-0.6700

Asia range 0.6627-0.6608

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