ASX200
Well it has certainly enjoyed a nice run in the last few weeks moving to close to a five month high above 5900 within the last week. If you flick through the charts of the top 20 stocks, sure enough, most of them have enjoyed a solid few weeks moving higher but not many of the charts look that good … quite a few are well down from where they started the year, eg. Telstra, Westfield and Brambles.
The all time highs this week:
- ADELAIDE BRIGHTON ORDINARY
- BEGA CHEESE LTD ORDINARY
- BLUE SKY LIMITED ORDINARY
- BWX LIMITED ORDINARY
- COCHLEAR LIMITED ORDINARY
- COSTA GROUP HOLDINGS ORDINARY
- CVC LIMITED ORDINARY
- DULUXGROUP LIMITED ORDINARY
- FISHER & PAYKEL H. ORD FOR. EXEMPT NZX
- INDUSTRIA REIT STAPLED
- INTEGRATED RESEARCH ORDINARY
- INVOCARE LIMITED ORDINARY
- NEXTDC LIMITED ORDINARY
- ORORA LIMITED ORDINARY
- PRO MEDICUS LIMITED ORDINARY
- THE A2 MILK COMPANY ORDINARY
- TREASURY WINE ESTATE ORDINARY
… with only a couple of new lows this week. Again, the list of all time highs above is quite the healthy number when the market is still below 6000.
Daily chart of S&P/ASX200 Index | Image from MetaStock
AUD/USD
Whilst many are almost celebrating the surging ASX200 index of late, the same cannot be said about the AUD/USD. The last couple of weeks have seen the resistance around 0.79 win out as the currency has been sold off strongly to move it back to a three month low near 0.76. If it continues to fall, the next most likely support might kick in around 0.75 which has supported it numerous times during this year.
The 0.80 level that I have spoken about numerous times of late seems so far away now and it will be interesting to see if the 0.7750 level which provided plenty of resistance earlier in the year resurfaces.
As I type this, it is currently trading around 0.7641.
Daily chart of AUDUSD | Image from MetaStock
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