After falling reasonably strongly from the 10 year high in the last couple of weeks, the ASX200 index has attempted to rally higher and just run straight back into the key level of 6000, which has provided some angst recently.
The all time highs this week:
- ALTIUM LIMITED ORDINARY
- ARB CORPORATION. ORDINARY
- ARENA REIT. STAPLED
- BREVILLE GROUP LTD ORDINARY
- COMPUTERSHARE LTD ORDINARY
- CSL LIMITED ORDINARY
- CVC LIMITED ORDINARY
- DICKER DATA LIMITED ORDINARY
- DULUXGROUP LIMITED ORDINARY
- FISHER & PAYKEL H. ORD FOR. EXEMPT NZX
- INSURANCE AUSTRALIA ORDINARY
- INVOCARE LIMITED ORDINARY
- LINK ADMIN HLDG ORDINARY
- MACQ ATLAS ROADS GRP ORDINARY STAPLED
- MACQUARIE GROUP LTD ORDINARY
- MNF GROUP LTD ORDINARY
- NEXTDC LIMITED ORDINARY
- PRO MEDICUS LIMITED ORDINARY
- REA GROUP ORDINARY
- RELIANCE WORLDWIDE ORDINARY
- RESMED INC CDI 10:1 FOR. EXEMP
- SEEK LIMITED ORDINARY
- THE A2 MILK COMPANY ORDINARY
- THE CITADEL GRP ORDINARY
… with only Baby Bunting (ASX Code: BBN) reaching a new 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 around 0.76. About a month ago it met resistance around 0.79 which saw the currency sold off strongly to move it back to a then three month low near 0.76 a few weeks ago.
Since that time, it has rallied a little but then fallen further again to trade at a five month low just above 0.75. As I mentioned last week, the next most likely support might kick in around 0.75 which has supported it numerous times during this year.
The 0.80 level that I have spoken about numerous times in the last six months seems so far away now and it will be interesting to see if the 0.7750 level which provided plenty of resistance earlier in the year resurfaces and affects any rally attempts.
As I type this, it is currently trading around 0.7624.
Daily chart of AUDUSD | Image from MetaStock
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