Thursday, October 15, 2026

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FxWirePro: ASX200 faces strong support at 5200, good to sell on rallies

Major Intraday resistance - 5276 (200 4H MA) The index has taken support near 200 H MA and slightly recovered from that level.It is currently trading around 5235. Overall trend is weak as long as the resistance 5276 (200…

By FxWire Pro
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FxWirePro: ASX200 faces strong support at 5200, good to sell on rallies
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  • Major Intraday  resistance - 5276 (200 4H  MA)
     
  • The index has taken support near 200 H MA and slightly recovered  from that level.It is currently trading around 5235.
     
  • Overall trend is weak as long as the resistance 5276 (200 4H MA) holds. 
     
  • Any break above 5276 will take the index to next level till 5300/5325. 
     
  • On the lower side, support is around 5205 (200 HMA) and any violation below that level will drag the index till 5140/5100/5075 in the short term.
     
  • Overall bearish invalidation only above 5430

    It is good to sell on rallies around 5235-5240 with SL around 5276 for the TP of 5145/5100.

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By FxWirePro Team