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AUD/USD in a chop between 0.7500 and 0.7600 – BBH

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.  

Key Quotes:

“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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