FxWirePro- BNBUSD Daily Outlook

Intraday bias - Bullish

Re-test level- $553

Any close above $600 confirms a bullish continuation.

BNBUSD showed a minor profit booking after a massive jump.  It hit a high of $577 and is currently trading around $568.

The pair holds above 34 and 55 EMA in the 4-hour chart. The intraday bearish trend continuation can happen if the pair closes below $537. On the lower side, the near-term support is $560. Any break below targets $540/$527 (38.2% fib)/$520 (200- day EMA) $490/$470/$456 (127.2% fib)/$437 (1.618% fib)/$403 is possible.

The immediate resistance stands at around $578. Any breach above confirms minor bullishness. A jump to $605 is possible. Bullish continuation only if it breaks $605.  A surge past $605 will take it to $700.

Indicators ( Daily chart)

Directional movement index - Neutral

CCI (50)- Bullish

CCI(14)- Bullish

It is good to buy on dips around $559 with SL around $540 for TP of $605/$700.