FxWirePro- BNBUSD Daily Outlook

Intraday bias - Bullish

Any close above $620 confirms bullish continuation.

BNBUSD pared most of its gains on weak market sentiment. It hit a low of  $535 and is currently trading around $535.80.

 The pair holds below 34 and 55 EMA in the 4-hour  chart. The bullish trend continuation can happen if the pair closes above $615 in daily chart. On the lower side, the near-term support is $528. Any break below targets $500/$470 is possible.

The immediate resistance stands at around $540. Any breach above confirms minor bullishness. A jump to $555/$565/$605/$620/$647/$700 is possible. A surge past $725 will take it to $800.

Indicators ( 4- hour chart)

Directional movement index - Bearish

CCI (50)- Bearish

It is good to buy on dips around $535 with SL around $500 for TP of $700.