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.
