FxWirePro: AUS200 trades weak, good to sell on rallies
Major resistance -5441 (55-day EMA). Major support - 5333 (Cloud bottom). The index has broken major support at 5333 and declined slightly till 5325 at the time writing.It is currently trading around 5339. On the higher …
The index has broken major support at 5333 and declined slightly till 5325 at the time writing.It is currently trading around 5339.
On the higher side,minor resistance is around 5377 (100-day MA) and any break above 5377 will take the pair till 5400/5437 (55- day EMA) / 5461 (daily Kijun-Sen). The index should break above 5625 for further jump till 5700.
The major support is around 5333 and any break below targets 5300/5264 in the short term.
It is good to sell on rallies around 5370 with SL around 5402 for the TP of 5300
