AUDUSD TECHS: Monitoring Resistance At The 50-Day EMA

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• RES 4: 116.57 High Aug 13
• RES 3: 115.72 High Aug 26 and a key S/T resistance 
• RES 2: 113.30 20-day EMA 
• RES 1: 113.06 High Sep 22  
• PRICE: 112.96 @ 07:46 BST Sep 23
• SUP 1: 111.52 2.236 proj of the Aug 13 - 20 - 26 price swing       
• SUP 2: 111.02 2.500 proj of the Aug 13 - 20 - 26 price swing
• SUP 3: 110.80 2.618 proj of the Aug 13 - 20 - 26 price swing
• SUP 4: 110.00 Round number support

A bearish theme in BTP futures remains intact and a fresh cycle low last on Sep 15 reinforces current conditions. Note that moving average studies on the continuation chart are in a bear-mode position, highlighting a dominant downtrend. Sights are on 111.52 next, a Fibonacci projection point. Initial firm resistance is seen at 113.30, the 20-day EMA. The latest recovery is - for now - considered corrective.

• RES 4: 184.09 61.8% retracement of the Aug 21 - Sep 14 bear leg 
• RES 3: 182.56 50-day EMA
• RES 2: 181.93 50.0% retracement of the Aug 21 - Sep 14 bear leg  
• RES 1: 181.55 High Sep 18 
• PRICE: 180.15 @ 07:57 BST Sep 23
• SUP 1: 178.94/177.85 Low Sep 18 / Low Sep 14 and bear trigger
• SUP 2: 177.15 Low Nov 10 2025 
• SUP 3: 176.01 1.236 proj of the Jul 29 - Aug 3 - 21 price swing  
• SUP 4: 175.29 38.2% retracement of the Feb 28 ‘25  - Apr 17 bull leg    

EURJPY is holding on to the bulk of its recent gains. Despite the move higher - a correction - a bearish trend theme remains intact. However, the latest climb has delivered a print above 180.87, the 20-day EMA. A clear break of this hurdle would signal scope for a stronger recovery, potentially towards the 50-day EMA, at 182.56. MA studies are in a bear-mode position, highlighting a dominant downtrend. The bear trigger lies at 177.85, the Sep 14 low.