Thursday, October 15, 2026

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ASX200 breaks major resistance 5560, targets 5625/5700

Major resistance- 5560 (Aug 9th 2016 high). Major support - 5500 (trend line joining 5483 and 5459). The index has broken high made on Aug 9th and jumped till 5573 at the time of writing. It is currently trading around 5…

By FxWirePro Team
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ASX200 breaks major resistance 5560, targets 5625/5700
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  • Major resistance- 5560 (Aug 9th 2016 high).
     
  • Major support - 5500 (trend line joining 5483 and 5459).
     
  • The index has broken high made on Aug 9th and jumped till 5573 at the time of writing. It is currently trading around 5567.
     
  • On the higher side,any break above 5560 confirms minor bullishness , a jump till 5625 (Aug 1st high)/5700 is possible.
     
  • The minor support is around 5527 (daily Kijun-Sen) and any break below targets 5500/5460/5400 in the short term.       

  It is good to buy on dips around 5535 with SL around 5500 for the TP of 5625/5700    

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By FxWirePro Team