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FxWirePro- BNBUSD Daily Outlook

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.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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