Technical Update - ASX 200 & AUDUSD
Kim Cramer Larsson
Technical Analyst, Saxo Bank
ASX couldn’t stay above Bull/Bear pivot at around 7,257 and got hammered alle the way down below rising trend line taking out last week’s throughs confirming down trend. RSI back below 40 indicating further down side.
No strong support before around 6,960. Some support around 7,100.
In a violent move Wednesday and Thursday AUDUSD jumped to a few points from 0.382 retracement and back down again. Down trend is intact, AUDUSD is likely to test strong support around 0.6990
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