The Aussie Dollar is now testing support at $0.89 after negative projections from Nouriel Roubini’s team. Reversal of 13-week Twiggs Momentum below zero warns of a primary down-trend, but expect further support at $0.8650/$0.8700. Breach would confirm a target of $0.80*.
* Target calculation: 0.87 – ( 0.94 – 0.87 ) = 0.80
The ASX 200 is testing support at 5300/5350. Long tails on the last two candles suggest short/medium-term buying pressure, but 13-week Twiggs Money Flow below zero warns of long-term selling pressure. Recovery above 5450 would suggest another rally, while breach of 5300 would warn of a fall to 4900/5000*.
* Target calculation: 5350 – ( 5700 – 5350 ) = 5000
The ASX 200 VIX is rising, but remains at levels typical of a bull market.
