ASX 200 Ends Flat as Banks and Woolworths Weigh

• ASX 200: Flat, holding near 50-day EMA and uptrend line; sideways trend intact.
• Commonwealth Bank of Australia (CBA): -0.36% to AU$121.50; testing 200-day EMA, still up 14.6% YoY.
• ANZ Group Holdings Limited (ANZ): -0.09% to AU$33.10; AU$33 support holding, bullish flag forming.
• Woolworths Group Limited (WOW): -0.33% to AU$27.20; down 18.8% this month on pricing and labour pressures.

The Australian index rallied early on Monday but struggled to hold on to its gains. This suggests the market is still uncertain about sustaining upward momentum, leading to a period of consolidation over the past few weeks. At present, it remains above the 50-day EMA and a key uptrend line, attracting close attention from market technicians.

The global economy is also in a state of flux as the Federal Reserve signals possible rate cuts, which could support US demand. At the same time, Australia faces headwinds from Asia, especially ongoing tariff disputes between the US and China. As a result, while the ASX 200 shows a positive bias, it may find it difficult to build strong momentum in the near term.

Commonwealth Bank of Australia (CBA)

Commonwealth Bank of Australia fell 0.36% during Monday’s session, extending its monthly decline to -4.74%. Despite this, the stock remains up 14.58% over the past year, which keeps overall sentiment relatively positive.

However, the share price is now testing the 200-day EMA and moving within a downward channel. This level is likely to draw significant interest from technical traders, as the 200-day EMA is widely viewed as a key indicator.

ANZ Group Holdings Limited (ANZ)

ANZ Group Holdings Limited slipped 9 basis points in Monday’s session, extending its monthly losses to -2.65%. The AU$33 level has acted as strong support in recent weeks, which could continue to attract buying interest.

From a technical perspective, the stock is forming a “bullish flag” pattern. Over the past year, ANZ has gained 3.54%, and the bank remains focused on global interest rate trends as it considers loan growth opportunities in Australia and Asia.

Woolworths Group Limited (WOW)

Woolworths Group Limited slipped 0.33% in the latest session, extending its monthly decline to -18.8%. Over the past year, the stock is down 21.98%, weighed by pricing pressures and stronger competition from major rivals.

The market has been testing the AU$27 level for support, but overall sentiment remains weak. Rising competition for workers also continues to be a significant challenge for the company.

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