By IFCMarkets
Deteriorating data bearish for AU200
Australia’s economic data in the recent week deteriorated: unemployment ticked up, an economic leading indicator declined further and another index showed accelerating contraction in private sector. Thus, unemployment inched up to 5.2% from 5.1% in February, the Westpack bank leading index fell from 0.4% over month decline in February to 0.8% drop in March, the weakest reading since December 2008, and the Commonwealth Bank composite index fell to 22.4 from 39.4 in February. These are all bearish for AU200.
| Indicator | VALUE | Signal |
|---|---|---|
| RSI | Neutral | |
| MACD | Neutral | |
| Donchian Channel | Neutral | |
| MA(200) | Sell | |
| Fractals | Sell | |
| Parabolic SAR | Sell | |
| Fibonacci | Buy |
| Order | Sell |
| Buy stop | Below 5077.09 |
| Stop loss | Above 5318.50 |
Market Analysis provided by IFCMarkets