FxWirePro- BNBUSD Daily Outlook

Intraday bias - Bullish

Trend reversal level- $531 (200- day EMA)

Any close above $620 confirms a bullish continuation.

BNBUSD trades flat after a minor pullback. It hits a high of  $586.30 at the time of writing  and is currently trading around $581.40.

The pair holds above 34 and 55 EMA in the daily chart. Intraday bullishness can be seen if it breaks above 586.90 (365 Hull EMA). The bullish trend continuation can happen if the pair closes above $615 in the daily chart. On the lower side, the near-term support is $560 (resistance turned into support). Any break below targets $540/$528/$500/$470 is possible.

The immediate resistance stands at around $587. Any breach above confirms minor bullishness. A jump to $605/$620/$647/$700 is possible. A surge past $725 will take it to $800.

Indicators ( 4- hour chart)

Directional movement index - Neutral

CCI (50)- Bullish

It is good to buy on dips around $560 with SL around $528 for TP of $700.

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