ASX200 Moves to Four Month High Above 5800 – Market Update

ASX200

As my youngest daughter would say, “wait, what?”.  The ASX200 finally makes a move beyond the prevailing range to move to its highest level since mid-June.  It is nothing significant at this stage but good to see it have a solid run this last week to move to that high.

The all time highs this week:

  • ALTIUM LIMITED  ORDINARY
  • BLUE SKY LIMITED  ORDINARY
  • BREVILLE GROUP LTD  ORDINARY
  • BWX LIMITED  ORDINARY
  • COCHLEAR LIMITED  ORDINARY
  • COSTA GROUP HOLDINGS  ORDINARY
  • FISHER & PAYKEL H.  ORD FOR. EXEMPT NZX
  • GDI PROPERTY GRP  STAPLED SECURITIES
  • IDP EDUCATION LTD  ORDINARY
  • INTEGRATED RESEARCH  ORDINARY
  • INVOCARE LIMITED  ORDINARY
  • LOVISA HOLDINGS LTD  ORDINARY
  • MINERAL RESOURCES.  ORDINARY
  • NEXTDC LIMITED  ORDINARY
  • ORORA LIMITED  ORDINARY
  • QANTAS AIRWAYS  ORDINARY
  • SKYDIVE THE BEACH GR  ORDINARY
  • SMARTGRP CORPORATION  ORDINARY
  • THE A2 MILK COMPANY  ORDINARY

… with no new lows this week.  Again, the list of all time highs above is a healthy number considering how the general market is performing.

Daily chart of S&P/ASX200 Index | Image from MetaStock

AUD/USD

The last few weeks has seen the overwhelming selling pressure at anything above 0.80 manifest in the Australian dollar’s strong decline in the last month. It has found some recent support around 0.78 and more recently 0.7750, with the latter level being reasonably significant throughout this year.

The 0.80 level remains key as despite numerous attempts the AUDUSD has been unable to maintain a break through that level. It has been rejected every time.

As I type this, it is currently trading around 0.7829.

Daily chart of AUDUSD | Image from MetaStock

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Stuart McPhee
Stuart McPhee
Australian private trader for nearly 20 years, author, trading coach, licensed adviser and regular speaker at major trading events all around the world. Graduate of RMC Duntroon and former Australian Army Officer.