11 Dec 2016
AUD/USD stymied by $0.7500 - BBH
Analysts at Brown Brothers Harriman noted that the Australian dollar has been stymied by $0.7500.
Key Quotes:
"The surprisingly poor Q3 GDP (-0.5%) and larger trade deficit (A$1.5 bln) neutralized the impact of higher metal prices and stronger China imports."
"The technical indicators are mixed, which could be resolved by some more sideways activity. "
"A break of $0.7430 would likely signal a test on $0.7380 initially but possibly back to $0.7300."