Analysts at Brown Brothers Harriman explained that the Australian dollar closed higher against the US dollar for the second consecutive week and the third week of the past four.
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“However, for the better part of the past three weeks, the Aussie has mostly chopped between $0.7500 and $0.7600.”
“The technical indicators are mixed, but if the Aussie cannot establish a foothold above $0.7620 by the end of next week, the charts may turn more decisively negative.”
“There is a slew of Australian economic data next week, and although generally constructive data is expected, it will not be sufficient to push the RBA off its neutral stance.”
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