AUD to likely trade just above $0.7620 at the end of week - BBH

Research Team at BBH, suggests that the although the Reserve Bank of Australia cut interest rates, the combination still relatively high yields and triple-A credit draws international savings and speculative interest for the AUD.  

Key Quotes

“Even in the face of the rising US dollar on the employment data, the Australian dollar held up well.   The technical indicators we use are not generated strong signals.  The Aussie is approaching a band of resistance found between around $0.7660 to $0.7680.  

In addition, it is flirting with trendline resistance.  It is found by connecting the April 21 high (~$0.7830) and the July 15 high (~$0.7675).  It caught a couple more recent highs and was found near $0.7635 before the weekend.  The trend line was violated intraday, but not on a closing basis.  It is found just above $0.7620 at the end of week.”