Australia 200 (AD200AUD) Retests Resistance Level at 6000, Resumes Selling Pressure
Login

Australia 200 (AD200AUD) Retests Resistance Level at 6000, Resumes Selling Pressure

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Key Resistance Zones: 7000, 7100, 7200
Key Support Zones: 6100, 6000, 5900

Australia 200 (AU200AUD) Long-term Trend: Bearish
Australia 200 is currently in a downward move. A correction candle body is testing 0.50 Fibonacci retracement level. This indicates that the index will fall and reach a low of 2.0 extension level. The market will first reach the first target at level 1.618. The downward movement will reach the low of level 2.0 Fibonacci extension level. In other words, the market fall to level 5400.

AU200AUD – Daily Chart

Daily Chart Indicators Reading:
The moving averages have made a bullish crossover. The 21-day SMA crosses over the 50-day SMA indicating an uptrend. Presently, the SMAs are falling downward indicating the downtrend. The index has fallen to level 53 of the Relative Strength Index period 14. This indicates that the market is in the downtrend zone.

Australia 200 (AU200AUD) Medium-term Trend: Bearish
On the 4- hour chart, the index is currently in a descending channel. The bulls push price to level 6150 but were resisted. The index is currently on a downward move. If price breaks below level 5950, the downtrend will continue.

AU200AUD – 4 Hour Chart

4-hour Chart Indicators Reading
AU200AUD is below 40% range of the daily stochastic. It indicates a bearish momentum. The 21-day SMA and the 50-day SMA are sloping downward.

General Outlook for Australia 200 (AU200AUD)
Australia 200 is gradually on a downward move. The RSI period 14 indicates that buyers are still in control despite the bearish momentum. The downward move has been slowed because of the price tussle.


Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News