ASX200 The ASX200 index continues to toy with the key 5000 level as it dances on either side of it teasing the market and offering little clue as to what will happen next. The perception of the significance of the 5000 level is often understated. Whilst the market’s value is only slightly different between the index at 4950 and …
ASX200 and AUD/USD Continue to Toy with Key Levels Read More »
ASX200 As much as the ASX200 index has been relying upon the key 5000 level for support, the index has now fallen to its lowest close in over two years. Fortunately for the index, it remains quite close to the key 5000 level and is still able to enjoy solid support and demand around this …
The Australian dollar has tumbled below US71c in offshore trade as a broad commodities sell-off afflicted the local currency. At 7am (AEST), the unit is trading at US70.91c, down sharply from US71.52c yesterday. The currency dipped as low as US70.56c, before gaining ground near the end of the US session as stocks pared losses. The …
AUD/USD Drifts Below 0.71 After Resistance from 0.72 Read More »
AUD/USD The Australian dollar continues to struggle with the current key level of 72 cents as it has been pushed away again by a glut of supply. It has formed a couple of classic reversal patterns on the daily chart (image below) with a doji followed by a pin bar. Both of these represent weakness …
AUD/USD Struggles with Resistance at 0.72 as ASX200 Needs 5000 Read More »
