Intraday bias - Bullish
Re-test level- $562
Any close above $620 confirms a bullish continuation.
BNBUSD showed a minor pullback after re-testing $565 level. It hits a low of $564 and is currently trading around $580.
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 $562. Any break below targets $554/$540/$528 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 ( 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.
