FxWirePro: AUS200 faces strong support at 5350, good to buy on dips
Major resistance -5445 (55-day EMA). Major support - 5350. The index has slightly recovered after making a low of 5351 yesterday. It is currently trading around 5422. On the higher side,minor resistance is around 5445 (5…
The index has slightly recovered after making a low of 5351 yesterday. It is currently trading around 5422.
On the higher side,minor resistance is around 5445 (55- day EMA) and any break above 5445 will take the pair to next level till 5500/5520 (9- day EMA). The index should break above 5625 for further jump till 5700.
The major support is around 5333 (50% retracement of 5041 and 5625) and any break below targets 5300 (cloud bottom)/5264 in the short term.
It is good to buy on dips around 5400 with SL around 5350 for the TP of 5480/5520
