Thursday, October 15, 2026

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FxWirePro: ASX200 struggles to close above 5600,good to buy on dips

Major support - 5,540 (daily Tenken-Sen) The index has declined after making a high of 5625. It is currently trading around 5,587. Overall trend is bullish as long as the support 5,540 (daily Tenken-Sen) holds. Any break…

By FxWire Pro
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FxWirePro: ASX200 struggles to close above 5600,good to buy on dips
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  • Major support   - 5,540 (daily Tenken-Sen)
     
  • The index has declined after making a high of 5625. It is currently trading around 5,587.
     
  • Overall trend is bullish as long as the support 5,540 (daily Tenken-Sen) holds. 
     
  • Any break above major resistance 5,600 will take the index to next level till 5,672 (161.8% retracement of 5,431 and 5,041)/5,700 in the short term.
     
  • On the lower side, support is around 5540 and any violation below that level will drag the index till 5,525/5,500/5,480.

    It is good to buy on dips around 5,580 with SL around 5,540 for the TP of 5,670/5,700. 

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By FxWirePro Team