ASX200
I feel a little silly repeating myself, however the ASX200 index continues to do very little as it moves between 5650 and the key 5800 level with the former providing some more support recently.
The all time highs / lows reading this week is 12 / 3. Some of the all time highs include the A2 Milk Company (again), Rural Funds and Treasury Wine. The lows include Healthscope and Regis Healthcare.
Again, the 12 is a reasonable number considering how the general market is performing.
Daily chart of S&P/ASX200 Index | Image from MetaStock
AUD/USD
In the last few days the Australian dollar has made another run at the key 0.80 level only to be sold off again. As I mentioned last week, it is now getting some support from around 0.79 as it has bounced off that level a number of times in the last two weeks. The 0.80 level remains key as around a month ago, it made repeated attempts to move through this level however it was rejected every time, and again a few days ago.
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 0.7937.
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.
