Thursday, October 15, 2026

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FxWirePro:ASX200 faces strong resistance at 5625, good to buy on dips

Major resistance- 5625 (Aug 1st 2016 high). Major support - 5500 (trend line joining 5483 and 5459). The index has jumped till 5584 yesterday and slightly declined from that level. It is currently trading around 5562. On…

By FxWirePro Team
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FxWirePro:ASX200 faces strong resistance at 5625, good to buy on dips
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  • Major resistance- 5625 (Aug 1st 2016 high).
     
  • Major support - 5500 (trend line joining 5483 and 5459).
     
  • The index has jumped till 5584 yesterday and slightly declined from that level. It is currently trading around 5562.
     
  • On the higher side,any break above 5625 temporary top  confirms minor bullishness , a jump till 5700 is possible.
     
  • The minor support is around 5532 (daily Kijun-Sen) and any break below targets 5500/5460/5400 in the short term.    

     It is good to buy on dips around 5535 with SL around 5500 for the TP of 5625/5700    

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By FxWirePro Team