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
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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