Australia 200 (AU200AUD) Declines After Rejection From Level 0.6700

Australia 200 (AU200AUD) Declines After Rejection From Level 0.6700

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

Australia 200 (AU200AUD) Long-term Trend: Bullish
Australia 200 is making an upward move. The index is facing rejection at level 0.6700. On Nov ember 9 uptrend, a retraced candle body tested the 78.6% Fibonacci retracement level. This indicates that the index is expected to rise and reverse at 1.272 Fibonacci extensions. That is the high of level 6742.40.

AU200AUD – Daily Chart

Daily Chart Indicators Reading:
The 21-day SMA and the 50-day SMA are sloping upward indicating the uptrend. It has risen to level 70 of the Relative Strength Index period 14. This indicates that the market is in the uptrend zone and above the centerline 50.


Australia 200 (AU200AUD) Medium-term Trend: Bullish
On the 4- hour chart, Australia 200 is in an upward move. The upward move is facing resistance at level 0.6700 as the pair resumes a downward move. The price has fallen and broken the 21-day SMA. When price breaks the 21-day SMA and 50-day SMA, the selling pressure will be accelerated.

AU200AUD – 4 bHourvChart

4-hour Chart Indicators Reading
AU200AUD is below 20% range of the daily stochastic. The index is in the approaching oversold region. The 21-day SMA and the 50-day SMA are sloping upward indicating the current uptrend.

General Outlook for Australia 200 (AU200AUD)
Australia 200 is making an upward move. The index is falling and as a result of rejection at level 0.6700. The uptrend has resumed a downward move as



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Author : Azeez Mustapha

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Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.