ASX200
The ASX200 index has enjoyed another solid week moving higher although it continues to look a little shaky at any level above 6000. It formed another classic reversal pattern yesterday as it got close to 6050 and today has eased lower back towards 6000 again. The positive remains that it is currently trading higher than where it started this year and has experienced a solid last couple of months.
The all time highs this week:
- BWX LIMITED ORDINARY
- CARSALES.COM LTD. ORDINARY
- CHALLENGER LIMITED ORDINARY
- CYBG PLC CDI 1:1FOREXEMPT LSE
- DATA#3 LIMITED ORDINARY
- DICKER DATA LIMITED ORDINARY
- FISHER & PAYKEL H. ORD FOR. EXEMPT NZX
- FSA GROUP LIMITED ORDINARY
- GDI PROPERTY GRP STAPLED SECURITIES
- HOTEL PROPERTY STAPLED
- INSURANCE AUSTRALIA ORDINARY
- LOVISA HOLDINGS LTD ORDINARY
- MACQ ATLAS ROADS GRP ORDINARY STAPLED
- NEWS CORP.. B VOTING CDI
- PRO MEDICUS LIMITED ORDINARY
- RESMED INC CDI 10:1 FOR. EXEMP
- SCA PROPERTY GROUP STAPLED SECURITIES
- SPEEDCAST INT LTD ORDINARY
- TREASURY WINE ESTATE ORDINARY
… with Myer Holdings (ASX Code: MYR) the only all time low this week.
Daily chart of S&P/ASX200 Index | Image from MetaStock
AUD/USD
The last few months have seen the AUDUSD decline considerably from above 0.80 to it present trading levels right above 0.75. However as I mentioned last week, the AUDUSD has enjoyed rock solid support from the 0.75 level as it has surged higher this week returning to a one month high around 0.7670.
The 0.75 level has supported the Australian dollar numerous times during this year and has done a solid job again over the last week Looking above the 0.7750 level has provided some reasonable resistance throughout this year and will be closely watching if the Australian dollar continues to move higher.
As I type this, it is currently trading around 0.7669.
Daily chart of AUDUSD | Image from MetaStock
Important Information
This material is made available by Trading Excellence Pty Ltd (ABN 11 096 024 958) (“Trading Excellence”) and Stuart McPhee who is an Authorised Representative (No 276438) of Australian Stock Report Pty Limited (AFSL 301682 – ABN 94 106 863 978)(“ASR”) and Amalgamated Australian Investment Solutions Pty Limited (AFSL 314614 – ABN 61 123 680 106)(“AAIS”).
This blog is prepared and disseminated for information and discussion purposes only. It is neither an offer to buy or sell securities, or any other financial products nor a solicitation of an offer to buy securities or other financial products. To the extent that any of the content of this website constitutes advice, it is general advice as opposed to personal advice.
Opinions, estimates and projections constitute the current judgement of the author as at the date of publication. They do not necessarily reflect the opinions of ASR, AAIS or any of the related entities, and are subject to change without notice. Whilst the information presented herein is believed to be reliable and sourced from public sources believed to be reliable, ASR and AAIS do not make any representation as to its accuracy or completeness. Past performance is not necessarily indicative of future results.
ASR and AAIS have no obligation to update, modify or amend this publication or otherwise notify a recipient if any opinion, forecast or estimate contained herein changes or subsequently becomes inaccurate.
Employees and/or associates of ASR, AAIS and its related entities may hold one or more of the stocks, securities or investments reviewed in the newsletter or on the website. Any personal holdings by employees and/or associates of ASR and AAIS and their related entities should not be seen as an endorsement or recommendation in anyway.
ASR and AAIS’ Privacy Statement and Financial Services Guide can be obtained upon request.
No part of this document may be reproduced in any form without the prior written consent of Trading Excellence Pty Ltd.
© Trading Excellence Pty Ltd 2017. All Rights Reserved.
