Thursday, October 15, 2026

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FxWirePro:ASX200 faces strong support at 5500, good to buy on dips

Major resistance- 5560 (Aug 9th 2016 high). Major support - 5500 (trend line joining 5483 and 5459). The index has once again recovered after making a low of 5506 on Friday. It is currently trading around 5538. On the hi…

By FxWirePro Team
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  • Major resistance- 5560 (Aug 9th 2016 high).
     
  • Major support - 5500 (trend line joining 5483 and 5459).
     
  • The index has once again recovered after making a low of 5506 on Friday. It is currently trading around 5538.
     
  • On the higher side,major resistance is around 5560 and any break above will take the index to next level at 5625 (Aug 1st high)/5700.
     
  • The minor support is around 5500 and any break below targets 5460/5400 in the short term.       

  It is good to sell on rallies around 5520 with SL around 5570 for the TP of 5450/5400    

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By FxWirePro Team