Nothing to report here …. The ASX200 index continues to do very little as it moves between 5650 and the key 5800 level, although it has been closer to the former level more of late.
The all time highs this week:
- ALTIUM LIMITED ORDINARY
- APPEN LIMITED ORDINARY
- BLUE SKY LIMITED ORDINARY
- BREVILLE GROUP LTD ORDINARY
- BWX LIMITED ORDINARY
- COCHLEAR LIMITED ORDINARY
- COSTA GROUP HOLDINGS ORDINARY
- CVC LIMITED ORDINARY
- INTEGRATED RESEARCH ORDINARY
- INVOCARE LIMITED ORDINARY
- KIDMAN RESOURCES LTD ORDINARY
- MINERAL RESOURCES. ORDINARY
- MOTORCYCLE HLDG ORDINARY
- OROCOBRE LIMITED ORDINARY
- PROPERTYLINK GRP STAPLED US PROHIBIT
- QANTAS AIRWAYS ORDINARY
- RELIANCE WORLDWIDE ORDINARY
- SMARTGRP CORPORATION ORDINARY
- SOUTH32 LIMITED ORDINARY
- THE A2 MILK COMPANY ORDINARY
- THE CITADEL GRP ORDINARY
- WISETECH GLOBAL LTD ORDINARY
The surprise for me in that list is Qantas – what a turnaround!
The new lows this week:
- DING SHENG XIN LTD ORDINARY
- ONEVIEW HEALTHCARE CDI 1:1
- SEVEN WEST MEDIA LTD ORDINARY
The list of all time highs above is a healthy number considering how the general market is performing.
Daily chart of S&P/ASX200 Index | Image from MetaStock
The last few weeks has seen the overwhelming selling pressure at anything above 0.80 manifest in the Australian dollar’s strong decline during that time. It has found some recent support around 0.78 and it has bounced off that level a couple of times now in the last couple of months, although it is just sliding a little lower now.
The 0.80 level remains key as despite numerous attempts the AUDUSD has been unable to maintain a break through that level. It has been rejected every time.
If it was to continue to ease lower, you could reasonably expect the 0.7750 level to kick in and provide some measure of support, as this level has provided resistance several times over the last 12 months.
As I type this, it is currently trading around 0.7761.
Daily chart of AUDUSD | Image from MetaStock
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