AUDUSD TECHS: Breaches The 50-Day EMA
* RES 4: 0.7318 2.0% 10-dma envelope * RES 3: 0.7310 1.00 proj of the Mar 30 - May 6 - Jun 30 price ...
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AUDUSD TECHS: Bullish Phase
- RES 4: 0.7278 High May 6 and key resistance
- RES 3: 0.7201 High May 29
- RES 2: 0.7181 76.4% retracement of the May 6 - Jun 30 bear leg
- RES 1: 0.7129/49 High Aug 17 / High Jun 4
- PRICE: 0.7095 @ 16:31 BST Aug 18
- SUP 1: 0.7025/0.6922 50-day EMA / Low Jul 29
- SUP 2: 0.6907 Low Jul 8
- SUP 3: 0.6865 Low Jun 30 and the bear trigger
- SUP 4: 0.6757 38.2% retracement of the Apr 9 ‘25 - May 6 bull cyle
A bull cycle in AUDUSD remains intact for now and Monday’s bullish start to the week reinforces the bull theme. Price has recently breached the 50-day EMA, highlighting scope for a stronger recovery and Monday’s gains delivered a print above 0.7120, the 61.8% of the May 6 - Jun 30 bear leg. A continuation higher would pave the way for an extension towards 0.7181, the 76.4% retracement point. Support at the 50-day EMA lies at 0.7025.
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Politico reports: "A deal between the U.S. and Canada to stave off new tariffs on Canadian goods is now on President Donald Trump’s desk, according to three people familiar with the discussions who were granted anonymity because of the sensitivity of the talks. Now it’s up to Trump whether the 50 percent duty goes into effect, as scheduled, at midnight."
EURJPY TECHS: Corrective Cycle Extends
- RES 4: 186.11 1.0% Upper Bollinger Band
- RES 3: 186.05 Low Jul 28
- RES 2: 185.56 76.4% retracement of the Jul 23 - Aug 3 bear leg
- RES 1: 184.91 High Aug 18
- PRICE: 184.80 @ 16:30 BST Aug 18
- SUP 1: 183.16 Low Aug 12
- SUP 2: 181.33/179.37 Low Aug 7 / 3 and key support
- SUP 3: 178.82 High Oct 30 2025
- SUP 4: 177.15 Low Nov 10 2025
EURJPY continues to retrace the sharp sell-off between Jul 29 - Aug 3. For now, gains are considered corrective. However, the cross has traded through the 20- and 50-day EMAs, strengthening the current recovery. This paves the way for a climb towards 185.56, a Fibonacci retracement and the next important S/T resistance. For bears, a reversal would highlight the end of the correction and refocus attention on 179.37, the Aug 3 low and key support.
