AU200 Bias Turns Bullish

The AU200 price forecast in our March 27, 2020 technical analysis was bearish.

New data after AU200,H4 March 27, 2020 technical analysis indicate bullish bias now.

• AU200 closed up 7% at 5181.4 on March 30.
• Australia announced a moratorium on evictions of people from their rentals in the next six months.
• Government said an additional A$1.1 billion ($680 million) will be spent on health and law services besides earlier measures which equaled to about 10% of Australia’s annual gross domestic product.

Here is what indicators show as of March 30, 2020:

• The Donchian Channel gives a neutral signal.
• The MA(50) Indicator gives a bullish signal.
• The Parabolic indicator gives a bearish signal.
• The Fractals give a neutral signal.
• The MACD indicator gives a bullish signal.
• The RSI oscillator gives a neutral signal.
• The Fibonacci indicator gives a bullish signal.

So the forecast is bullish for the AU200, H4.

Reuters