FxWirePro- BNBUSD Daily Outlook

Intraday bias - Bullish

Re-test level- $562

Any close above $600 confirms a bullish continuation.

BNBUSD trades higher for the third consecutive week.   It hit a high of $599 and is currently trading around $590.90.

 The pair holds above 34 and 55 EMA in the 4-hour chart. The bullish trend continuation can happen if the pair closes above $600. On the lower side, the near-term support is $575. Any break below targets $560/$540/$527 (38.2% fib)/$520 (200-day EMA) $490/$470/$456 (127.2% fib)/$437 (1.618% fib)/$403 is possible.

The immediate resistance stands at around $605. Any breach above confirms minor bullishness. A jump to $620/$647/$700 is possible. A surge past $725 will take it to $800.

Indicators ( Daily chart)

Directional movement index - Bullish

CCI (50)- Bullish

CCI(14)- Bullish

It is good to buy on dips around $570 with SL around $540 for TP of $700.