Waiting for the rebound of Australian shares

Saxo Capital Markets Australia

Multi-asset trading platform

The Australian share market opened higher this morning, with the biggest impulse coming from Healthcare stocks. However throughout the day, the S&P ASX 200 lost momentum and is again in negative territory. The index is now in a four-day losing streak, after breaking below the key support level 5,570. Saxo Capital Markets traders currently see that the selling pressure is strong and the downside momentum for the Australian Share market remains. But considering that the S&P ASX 200 fell more than 300 points this week, Saxo traders now expect a retracement coming shortly at support level at 5,446 points. On the FX side, Saxo Capital Markets also expects some rebound to the upside on the AUDUSD, given that the currency found some support at 0.7677. But yesterday’s weak data (retail sales and trade balance) and price actions suggest that the Aussie dollar is likely to remain under selling pressure below its next resistance level. To read more visit: (VIEW LINK)

Saxo Capital Markets Australia
Saxo Capital Markets Australia
Multi-asset trading platform

Saxo Capital Markets (Australia) Pty Ltd is a wholly owned subsidiary of Saxo Bank A/S, a global online trading platform specialist. We enable investors the ability to trade FX, CFDs, Stocks, Futures & other derivatives from one account....


No areas of expertise

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.


Sign In or Join Free to comment