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Published: 6 May 2026,07:46
Chart The Market
EURAUD, H4:
EUR/AUD has been trading within a well-defined bearish trajectory, declining more than 3.5% from its April peak—highlighting sustained selling pressure and a clear downside bias.
Recent price action shows the pair approaching its monthly low near the 1.6120 level, a critical support zone that could determine the next directional move.
A decisive break below 1.6120 would confirm continuation of the downtrend and likely accelerate bearish momentum, potentially exposing the next key psychological support at 1.6000.
Unless the pair is able to stabilize above current levels and reclaim higher ground, the prevailing bearish structure is expected to remain intact in the near term.
Resistance Levels: 1.6315, 1.6520
Support Levels: 1.6150, 1.6000
USDJPY, H4
USD/JPY staged a technical rebound in the latest session following a sharp decline previously, indicating a short-term recovery in price action.
The pair is now expected to retrace part of the prior sell-off and fill the imbalance created during the downturn. Current momentum suggests that USD/JPY may extend its recovery toward the next resistance level near 158.75.
Momentum indicators support this rebound scenario. The Moving Average Convergence Divergence (MACD) has formed a bullish crossover at lower levels, while the Relative Strength Index (RSI) has moved above the midpoint—both signaling that bullish momentum is building.
As long as the recovery momentum is sustained, the pair could continue to edge higher in the near term, with focus on the 158.75 resistance as the next key test.
Resistance Levels: 158.75, 159.90
Support Levels: 156.75, 155.60
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