AUD/USD: NAB is aiming for 0.75 by end of year but 0.77 is more likely

NAB expects the current range to remain in place for some time:

"The Fed is now behind us and the dollar has been on the decline since then, helping the AUD/USD to remain within its range at 0.7450-0.7750. Nearly 100% of the volatility of the cross occurred within this small range since the beginning of August.

AUD/USD will probably end the quarter near 0.77 but we see no reason to revise our target of 0.75 by the end of the year. We do not believe that the current range is threatened with a break.

That said, the US elections are approaching and we would tend to believe that any break would be through the bottom," says NAB.