Thursday, October 15, 2026

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FxWirePro: ASX200 faces strong resistance at 5500,good to buy at dips

Major support - 5390 (4 Hour Kijun-Sen) The index has retreated slightly after making a high of 5481.It is currently trading around 5457. Overall trend is bullish as long as the support 5390 (4H Kijun-Sen) holds. Any bre…

By FxWire Pro
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FxWirePro: ASX200 faces strong resistance at 5500,good to buy at dips
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  • Major support   - 5390 (4 Hour Kijun-Sen)
     
  • The index has retreated slightly after making a high of 5481.It is currently trading around 5457.
     
  • Overall trend is bullish as long as the support 5390 (4H Kijun-Sen) holds. 
     
  • Any break above major resistance 5481 will take the index to next level till 5525/5550.
     
  • On the lower side, support is around 5440 (21 4HMA) and any violation below that level will drag the index till 5390/5350/5320 in the short term.

It is good to buy on dips around 5425 with SL around 5365 for the TP of 5500/5550.

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By FxWirePro Team