FxWirePRO-BNBUSD Daily Outlook

Horizontal trend line- $605

BNBUSD halted its three days of a bearish trend.

Any daily close above $605 confirms further bullishness.

BNBUSD showed a minor pullback from a minor bottom $521.The pair holds well above the short-term (34 and 55 EMA) and long-term moving average in the 4-hour. It hit a high of $546.80 at the time of writing and is currently trading around $543.20.

The bullish invalidation can happen if the pair closes below $400. On the lower side, the near-term support is $519.80 (200-day EMA). Any break below targets$500/$460.

The immediate resistance stands at around $553. Any breach above confirms minor bullishness. A jump to $560/$569/$580/$600 is possible. A surge past $605 will take it to $700.

Indicators ( 4- hour chart)

Directional movement index -Bearish

CCI (50)- Bearish

CCI(14)- Bearish

It is good to buy on dips around $520 with SL around $470 for TP of $605.

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