The ASX200 index has made another couple of runs at the key 6000 level this week only to be turned away again. The positive is 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:
- ADELAIDE BRIGHTON ORDINARY
- ARB CORPORATION. ORDINARY
- AUSNET SERVICES LTD ORDINARY
- CREDIT CORP GROUP ORDINARY
- DATA#3 LIMITED ORDINARY
- DICKER DATA LIMITED ORDINARY
- FSA GROUP LIMITED ORDINARY
- HUB24 LTD ORDINARY
- LOVISA HOLDINGS LTD ORDINARY
- NEWS CORP.. B VOTING CDI
- OBJECTIVE CORP ORDINARY
- RESMED INC CDI 10:1 FOR. EXEMP
- RURAL FUNDS GROUP STAPLED
- SCA PROPERTY GROUP STAPLED SECURITIES
- SPEEDCAST INT LTD ORDINARY
- STEADFAST GROUP LTD ORDINARY
- TREASURY WINE ESTATE ORDINARY
… with Sky Network (ASX Code: SKT) 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.
In the last week it rallied higher to a three week high above 0.7650 before forming a classic pin bar reversal pattern and heading lower to a new six month low around 0.75. As I have mentioned previously, the 0.75 level is the next most likely support as it has supported the Australian dollar numerous times during this year.
As I type this, it is currently trading around 0.7508.
Daily chart of AUDUSD | Image from MetaStock
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