FxWirePro- BNBUSD Daily Outlook

Intraday bias - Bullish

Re-test level- $562

Any close above $620 confirms a bullish continuation.

BNBUSD pared some of its gains after a surge of more than $150. The pair formed a double top around $618 and showed a minor profit booking.

The pair holds below 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 $570. Any break below targets $562/$554/$540 is possible.

The immediate resistance stands at around $620. 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 - Bearish

CCI (50)- Bearish

It is good to buy on dips around $562 with SL around $528 for TP of $700.