Analysts at Brown Brothers Harriman explained that the Australian dollar peaked near $0.8065 in late July before falling to nearly $0.7800 in mid-August.
“We suggested last week that the pullback in the dollar bloc had run its course.
The Aussie struggled at the start of the week but recorded near six-day highs before the weekend.
A move above $0.7970 signals not only a test of the earlier high but another leg up toward $0.8150-$0.8250.”
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