FxWirePro: ASX200 struggles to close below 10- day MA, good to buy on dips

Major intraday support - 5515 ( 10-day MA)

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

•ASX200 recovers from the low of 5516 made at the time of writing till 5586. It is currently trading around 5580 0.69% higher

•Australian index should close below 10- day MA for further weakness.

•ASX200 faces major support at 5525 (10- day MA) and any break below targets 5460 (61.8% retracement of 5380 and 5598)/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 5525 with  SL at 5460 for the TP of 5625/5700.