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2,958.8 standard & poor's 500

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dangreen

190 Posts.

25

18/06/20

13:15

Post #: 45299106
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Originally posted by dangreen: ↑

Is it possible that the AUD/USD movements are leading the major indices? The AUD/USD pair hit the pre-COVID peak mid last week and pulled back to its up-trending support line – and similar movements were seen in the major indices.
Perhaps this is simply because the US Fed is printing soooo much money, that the value of the USD is going down, whilst propping up markets at the same time.
If the AUD/USD pair is in fact leading the markets, we should expect to see a serious decision being made when the rising support line, meets the horizontal resistance line, sometime before Monday 29^th June.
And on a daily basis, we should see some support kicking in today at around 0.684...food for thought

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Did anyone notice that bounce off the 0.684 level...

Value at posting: 2,958.8
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