Australia 200 (AU200AUD) Has Continued to Sustain Above Level 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. A retraced candle body tested the 78.6% Fibonacci retracement level. The index has already risen to level 1.272 Fibonacci extension but yet to reverse,.

Daily Chart Indicators Reading:
The 21-day SMA and the 50-day SMA are sloping upward indicating the uptrend. The index has risen to level 67 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 has broken resistance at level 6700. The index is retracing from the recent high.

4-hour Chart Indicators Reading
AU200AUD is above the 80% range of the daily stochastic. The index is approaching the 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 retracing after the rejection at level 6800. The market is likely move up after the retracemet.



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