Thursday, October 15, 2026

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

Major support - 5530 (4H Kijun-Sen) The index has recovered after making a low of 5544 yesterday. It is currently trading around 5573. Overall trend is bullish as long as the support 5498 (55 4H EMA) holds. Any break abo…

By FxWire Pro
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FxWirePro: ASX200 faces strong support at 5500, good to buy on dips
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  • Major support   - 5530 (4H Kijun-Sen)
     
  • The index has recovered after making a low of 5544 yesterday. It is currently trading around 5573.
     
  • Overall trend is bullish as long as the support 5498 (55 4H EMA) holds. 
     
  • Any break above major resistance 5600 will take the index to next level till 5672 (161.8% retracement of 5431 and 5041)/5700 in the short term..
  •  
  • On the lower side, support is around 5530 (4H Kijun-Sen) and any violation below that level will drag the index till 5485/5450/5390.

It is good to buy on dips around 5520 with SL around 5485 for the TP of 5600/5670. 

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By FxWirePro Team