FxWirePro- BNBUSD Daily Outlook

Intraday bias - Bullish

Intraday level to watch - $550

Any close above $620 confirms a bullish continuation.

BNBUSD trades in a narrow range between $618 and $534 for the past three weeks. It hit a high of $599.60 at the time of writing and is currently trading around $591.90

The pair holds above 34 and 55 EMA in the 4-hour chart. Intraday bearishness can be seen if it breaks below $551. The bullish trend continuation can happen if the pair closes above $618 in the daily chart. On the lower side, the near-term support is $570. Any break below targets $550/$540/$528/$500/$470 is possible.

The immediate resistance stands at around $605. Any breach above confirms minor bullishness. A jump to $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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