AUS200 on the Daily timeframe is currently traded around 8172.25, hovering around a key support level. The index has been in a strong downtrend, with consistent lower highs and lower lows, indicating bearish momentum.

The Fibonacci retracement levels show price struggling near the 0.0% retracement zone, signaling a possible short-term bottom. The 50-day moving average is sloping downward, reinforcing the bearish trend. However, the Stochastic Oscillator (5,3,3) at 36.30 and 27.55 indicates potential oversold conditions, which could lead to a short-term rebound.

Despite the prevailing bearish trend, the presence of support near 8172.25 suggests a potential consolidation or bounce if buyers step in. A breakdown below this level could accelerate further downside.

Market Observation & Strategy Advice:
Key support: 8172.25 – A break below this could push the price lower towards 8100-8050.
Key resistance: 8195.55 – A move above this level may trigger a retracement towards 23.6% Fibonacci around 8244.85.
Bearish trend remains intact, but oversold Stochastic suggests potential rebound.
Fibonacci levels to watch:

23.6% retracement near 8244.85 (first resistance)

38.2% retracement near 8294.15 (stronger resistance)

Trading strategy:

Sell if price breaks below 8172.25, targeting 8100-8050.

Buy cautiously on bullish confirmation above 8195.55, targeting 8244.85.

Market Performance:
Index            Last Price    % Change
S&P 500        5,572.07       -0.76%
Dow Jones    41,433.48     -1.14%
Nasdaq          17,436.10       -0.18%

Today’s Key Economic Calendar:
EU: ECB President Lagarde Speech
US: Core Inflation Rate YoY & MoM
CA: BoC Interest Rate Decision