News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
AUS 200 Technical Analysis: Support Trend Line Threatened

AUS 200 Technical Analysis: Support Trend Line Threatened

Nathalie Huynh,

Talking Points:

  • AUS 200 Strategy: Upside bias persists, provided support trend line is not broken
  • Hindrance are flat momentum and failures to break through 5043 resistance
  • Trend line support indicates 4950-4990 for next few sessions

AUS 200has not managed to climb above 5043 resistance level although it continues to respect a trend line support – which indicates the range 4950-4990 for next few days. As the gap between these two narrows, it will become clearer whether the index could continue on the recent rebound.

Flat momentum signals do not offer any useful hints other than consolidated price action ahead. The bulls could stay put while closely watch support levels, or prepare to get out after a breach. No downside signal has emerged and the index should remain elevated even if the recovery is disrupted.

Need a hand to start trading: Free Guides

AUS 200 Technical Analysis: Support Trend Line Threatened

Losing Money Trading Forex? This Might Be Why.

Want to read market’s momentum: Speculative Sentiment Index

--- Written by Nathalie Huynh, Strategist for DailyFX.com

Contact and follow Nathalie on Twitter: @nathuynh

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES