Further Downside Expected for ASX200
AU200AUD is expected to trade towards 1ts support, 3.82% Fibo retracement after breaking down from the lower trend line of the upward trend channel.Overhead support-turned-resistance (LPSY) also created additional layer of difficult for the index to trade higher.
A break above 6,765 wil falsify the analysis.
Trade closed: target reached
Traded to a low of 6,350, 50 points away from our 6,300 target.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.