Thursday, October 15, 2026

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

Major support - 5505 (4H Kijun-Sen) The index has recovered sharply after making a low of 5485 yesterday. It is currently trading around 5539. Overall trend is bullish as long as the support 5460 (55 4H EMA) holds. Any b…

By FxWire Pro
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FxWirePro: ASX200 faces strong support at 5500, good to buy at dips
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  • Major support   - 5505 (4H Kijun-Sen)
     
  • The index has recovered sharply after making a low of 5485 yesterday. It is currently trading around 5539.
     
  • Overall trend is bullish as long as the support 5460 (55 4H EMA) holds. 
     
  • Any break above major resistance 5550 will take the index to next level till 5600/5645 in the short term.
     
  • On the lower side, support is around 5505 (4H Kijun-Sen) and any violation below that level will drag the index till 5465/5450/5390.

    It is good to buy on dips around 5520 with SL around 5490 for the TP of 5550/5600. 

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By FxWirePro Team