FxWirePro: AUS200 faces strong support at 5350, good to sell on rallies

• Major resistance -5441 (55-day EMA).
   
• Major support - 5350.
   
• The index has broken major support at  5375 (100-day MA) and declined slightly from that level.It is currently trading around 5374.
   
• On the higher side,minor resistance is around 5400 and any break above 5400 will take the pair till 5437 (55- day EMA) / 5468 (daily Kijun-Sen)/5500/5520. The index should break above 5625 for further jump till 5700.
   
• The major support is around 5350 and any break below targets 5333 (50% retracement of 5041 and 5625)/ 5300 (cloud bottom)/5264 in the short term. 

 It is good to sell on rallies around 5400 with SL around 5440 for the TP of 5300