FxWirePro- BNBUSD Daily Outlook

Intraday bias - Bullish

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

Any close above $620 confirms a bullish continuation.

BNBUSD pared some of its gains after forming a minor top around $586.30. It hits a low of  $564.50 at the time of writing and is currently trading around $569.80.

The pair holds below 34 and 55 EMA in the 4-hour chart. Intraday bullishness can be seen if it breaks above 586.90 (365 Hull EMA). 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. 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 ( 4- hour chart)

Directional movement index - bearish

CCI (50)- Bullish

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

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