AUDUSD TECHS: Bear Leg Intact

• RES 4: 0.7310 1.00 proj of the Mar 30 - May 6 - Jun 30 price swing
• RES 3: 0.7278 High May 6 and key resistance
• RES 2: 0.7201 High May 29
• RES 1: 0.7181 76.4% retracement of the May 6 - Jun 30 bear leg
• PRICE: 0.7152 @ 16:55 BST Aug 24
• SUP 1: 0.7067 20-day EMA 
• SUP 2: 0.7040/0.6922 50-day EMA / Low Jul 29  
• SUP 3: 0.6907 Low Jul 8 
• SUP 4: 0.6865 Low Jun 30 and the bear trigger 

A bull cycle in AUDUSD remains intact for now and Friday’s strong gains reinforces the bull theme. Price is trading above the 50-day EMA, at 0.7040, and last week’s gains delivered a breach of 0.7120, the 61.8% of the May 6 - Jun 30 bear leg. The move higher strengthens the current bull theme and sights are on 0.7181, the 76.4% retracement point. Support to watch is the 50-day EMA at 0.7040.   

• RES 4: 187.95 High Apr 17 and a key M/T bull trigger 
• RES 3: 187.47 High Jul 29 and a key resistance  
• RES 2: 186.65 0.764 proj of the Aug 3 - 1- 12 price swing
• RES 1: 186.02 High Aug 21 
• PRICE: 185.69 @ 16:54 BST Aug 24
• SUP 1: 184.66/183.16 50-day EMA / Low Aug 12 
• SUP 2: 181.33 Low Aug 7 
• SUP 3: 179.37 Low Aug 3 and key support
• SUP 4: 178.82 High Oct 30 2025

EURJPY continues to retrace the sharp sell-off between Jul 29 - Aug 3. Last Thursday’s rally resulted in a breach of 185.56, the 76.4% retracement of the Jul 23 - Aug 3 bear leg. The break strengthens the short-term corrective bounce and exposes resistance at 187.47, the Jul 29 high. On the downside, a reversal would signal the end of the corrective phase and highlight a resumption of the recent bearish threat.

• RES 4: 187.95 High Apr 17 and a key M/T bull trigger 
• RES 3: 187.47 High Jul 29 and a key resistance  
• RES 2: 186.65 0.764 proj of the Aug 3 - 1- 12 price swing
• RES 1: 186.02 High Aug 21 
• PRICE: 185.69 @ 16:50 BST Aug 24
• SUP 1: 184.66/183.16 50-day EMA / Low Aug 12 
• SUP 2: 181.33 Low Aug 7 
• SUP 3: 179.37 Low Aug 3 and key support
• SUP 4: 178.82 High Oct 30 2025

EURJPY continues to retrace the sharp sell-off between Jul 29 - Aug 3. Last Thursday’s rally resulted in a breach of 185.56, the 76.4% retracement of the Jul 23 - Aug 3 bear leg. The break strengthens the short-term corrective bounce and exposes resistance at 187.47, the Jul 29 high. On the downside, a reversal would signal the end of the corrective phase and highlight a resumption of the recent bearish threat.