FxWirePro- BNBUSD Daily Outlook

Intraday bias - Bullish

Trend reversal level- $531 (200- day EMA)

Any close above $620 confirms bullish continuation.

BNBUSD consolidating in a narrow range between $581.80 and $559.50 for the past two days. It hit a high of  $574.60 at the time of writing and is currently trading around $574.60.

 The pair holds above 34 and 55 EMA in the daily chart. The bullish trend continuation can happen if the pair closes above $615 in daily chart. On the lower side, the near-term support is $560 (resistance turned into support). Any break below targets $540/$528/$500/$470 is possible.

The immediate resistance stands at around $587 (61.8% fib). Any breach above confirms minor bullishness. A jump to $605/$620/$647/$700 is possible. A surge past $725 will take it to $800.

Indicators ( Daily chart)

Directional movement index - Neutral

CCI (50)- Bullish

It is good to buy on dips around $560 with SL around $528 for TP of $700.