Friday, October 16, 2026

Technicals

Add as a preferred source on Google

FxWirePro: ASX200 struggles to break above 5300, good to sell on rallies

Major resistance - 5290 (200 4H MA) The index has declined sharply from the high of 5299. It is currently trading around 5227. Overall trend is weak as long as the resistance 5300 holds. The index's major resistance is a…

By FxWire Pro
1 min read
FxWirePro: ASX200 struggles to break above 5300, good to sell on rallies
Image from the original EconoTimes article

Read the original article

  • Major resistance - 5290 (200 4H  MA)
     
  • The index has declined sharply from the high of 5299. It is currently trading around 5227.
     
  • Overall trend is weak as long as the resistance 5300 holds. 
     
  • The index's major resistance is around 5300 and any break above targets 5325/5350. 
     
  • On the lower side, support is around 5220 and any violation below that level will drag the index till 5200/5150/5100 in the short term.
     
  • Overall bearish invalidation only above 5430.

    It is good to sell on rallies around 5245-5250 with SL around 5300 for the TP of 5150/5130.

Related articles

View all
Technicals

Major Pair Currency Score: AUDUSD Bearish

EURUSD - Levels to watch - 1.100 GBPUSD Levels to watch - 1.3180 USDCHF Levels to watch - 0.8400 USDCAD - Levels to watch - 1.4300 AUDUSD - Levels to watch - 0.7000 NZDUSD - Levels to watch - 0.5560

By FxWirePro Team