FxWirePro:ASX200 takes support at 90- day EMA, good to sell on rallies
Major resistance -5447 (55-day EMA). Major support - 5385 (90- day EMA). The index has taken support near 90-day EMA and slightly recovered from that level.It is currently trading around 5418. On the higher side,minor re…
The index has taken support near 90-day EMA and slightly recovered from that level.It is currently trading around 5418.
On the higher side,minor resistance is around 5450 (support turned into resistance) and any break above 5450 will take the pair to next level till 5500/5520 (9- day EMA). The index should break above 5625 for further jump till 5700.
The major support is around 5385 (90 day EMA) and any break below targets 5300 (cloud bottom) in the short term.
It is good to sell on rallies around 5455-5460 with SL around 5520 for the TP of 5360
