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Strategies & Market Trends : Currencies and the Global Capital Markets

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To: wlheatmoon who wrote (2891)	1/5/2001 5:21:43 PM
From: John Pitera	Read Replies (1) of 3536

The AUD broke above it's 200 dma and is above a .618 retracement level. So you have a 13% yield, and a currency kicker on FAX, that investment has done pretty well this year hasn't it. While today's action is not shown on our accompanying chart, we would note that gains have helped the Aussie penetrate its 200-day moving average against the dollar, a move that has led to a push above the 61.8% retracement level of the mid-June to late-November sell-off. As far as the other technicals go, we see a "hooking" buy signal coming from the MACD, while the RSI has turned higher from fairly strong levels.

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