Intraday bias - Bullish
Re-test level- $562
Any close above $615 confirms bullish continuation.
BNBUSD is consolidating in a narrow range between $580 and $616 for past four days. The pair broke $605.70 after three months of consolidation and this confirms short-term bullishness.
The pair holds above 34 and 55 EMA in the 4-hour chart. The bullish trend continuation can happen if the pair closes above $615 in the daily chart. On the lower side, the near-term support is $580. Any break below targets $562/$554/$540 is possible.
The immediate resistance stands at around $615. Any breach above confirms minor bullishness. A jump to $647/$700 is possible. A surge past $725 will take it to $800.
Indicators ( 4- hour chart)
Directional movement index - Neutral
CCI (50)- Bullish
It is good to buy on dips around $580 with SL around $554 for TP of $700.
