FxWirePro: ASX200 faces strong support at 55-day EMA,good to sell on rallies
Major intraday resistance -5525 (9-day EMA). Major support - 5447 (55 EMA). The index has recovered after making a low of 5447 yesterday. It is currently trading around 5498. On the higher side,any break above 5525 will …
The index has recovered after making a low of 5447 yesterday. It is currently trading around 5498.
On the higher side,any break above 5525 will take the pair to next level till 5560/5600/5625.The index should break above 5625 for further jump till 5700.
The minor support is around 5490 (34 day EMA) and any break below targets 5447/5400 in the short term.
It is good to sell on rallies around 5520 with SL around 5560 for the TP of 5450
