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
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
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