Thursday, 13 October 2011

AUD/USD testing trend line

The AUD/USD is testing the trend line drawn from the June 2010 and August 2011 lows, which runs parallel to the line drawn from the lows in March 2009. Despite the recent sharp rally, the market has not yet even tested the down trend line drawn from the August and September 2011 highs. Daily candlestick chart.

ASX 200 set to open higher

Log scale weekly candlestick chart shown below, including after hours trading, currently at 4239, compared to Wednesday's ASX close of 4204. The trend is down.