Friday, October 16, 2026

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FxWirePro: ASX200 trades well above 5100, jump till 5200 is possible

Major support - 5040 Major resistance - 5200 (200 H MA) The index has recovered after making a low of 5041 .It is currently trading around 5144. The intra day trend is slightly bullish as long as the support 5110 (hourly…

By FxWire Pro
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FxWirePro: ASX200 trades well above 5100, jump till 5200 is possible
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  • Major support - 5040 
     
  • Major resistance - 5200 (200 H MA)
     
  • The index has recovered after making a low of 5041 .It is currently trading around 5144.
     
  • The intra day trend is slightly bullish as long as the support 5110 (hourly Kijun-Sen) holds.
     
  • The index's major resistance is around 5140 and any break above 5140 will take the pair till 5183/5200 (200 HMA). 
     
  • On the lower side, support is around 5100 and any violation below that level will drag the index till 5075/5040/5000 in the short term.
     
  • Overall bearish invalidation only above 5430.

    It is good to buy at dips around 5125 with SL around 5075 for the TP of 5180/5200

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By FxWirePro Team