AUD/USD: lower end of the $0.7500-$0.7700 range has been frayed - BBH

Analysts at Brown Brothers Harriman explained that for the past seven weeks, the Australian dollar has been alternating between advances and declines.  

Key Quotes:

"The lower end of the $0.7500-$0.7700 range has been frayed, just like the upper end frayed in March and February. The price action argues against playing the breakout and the technical indicators appear to concur. A firm Q1 CPI report next week may help reinforce the lower end of the range."