Thursday, October 15, 2026

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FxWirePro:ASX200 faces strong resistance at 5430, good to buy at dips

Major support - 5327 (21 4H MA) The index has retreated after making a high of 5414 .It is currently trading around 5375. Overall trend is bullish as long as the support 5271 (200 4H MA) holds. Any break above major resi…

By FxWire Pro
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FxWirePro:ASX200 faces strong resistance at 5430, good to buy at dips
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  • Major support   - 5327 (21 4H  MA)
     
  • The index has retreated after making a high of 5414 .It is currently trading around 5375.
  • Overall trend is bullish as long as the support 5271 (200 4H MA) holds. 
     
  • Any break above major resistance 5431 will take the index to next level till 5475/5500. 
     
  • On the lower side, support is around 5350 and any violation below that level will drag the index till 5327/5309/5271 in the short term.

    It is good to buy on dips around 5350 with SL around 5300 for the TP of 5430/5500.

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By FxWirePro Team