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FxWirePro:ASX200 trades weak on Hawkish Fed , good to sell on rallies

 Major intraday support - 5515 ( 200- H MA)

•Major resistance - 5625 (Oct 11th 100- day MA).

ASX200 declines slightly after making a high of 5598 on account of first 25bpbs rate hike by Fed .It is currently trading around 5526 -0.2% lower.

•US Fed hiked federal funds rate by 25bpbs from 0.5% to 0.75% and is expected to hike more in the coming year on account of solid jobs growth.

•ASX200 faces minor support at 5515 (200 H MA) and any break below targets 5450/5427 (100-day MA).

•On the higher side, resistance is  at 5625 and any break above targets 5700/5750.

It is good to buy on dips around 5550-5555 with  SL at 5625 for the TP of 5455.

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