19 September 2025,05:28
Chart The Market
19 September 2025, 05:28
GBPAUD, H4:
The GBP/AUD pair has reversed its recent losses, breaking decisively above the key resistance level at 2.0470 and establishing a firm position within a renewed uptrend channel. The move marks a significant recovery from the pair’s week-long decline, during which it fell nearly 3% from its recent peak, and suggests a potential resumption of its broader upward trajectory.
The technical structure has shifted notably bullish, with the pair now trading within a defined ascending channel. A sustained hold above the 2.0470 level—now acting as support—would reinforce the reversal pattern and likely attract further buying interest.
Momentum indicators are aligned with the improved price action. The Relative Strength Index has climbed firmly above oversold territory and continues to trend higher, indicating strengthening buying pressure. Simultaneously, the Moving Average Convergence Divergence has crossed above its zero line, confirming that bullish momentum is accelerating.
The pair now faces near-term resistance near the 2.0650–2.0700 zone, a break above which could open the path toward the next significant technical level near 2.0850. Fundamental drivers, including diverging monetary policy expectations between the Bank of England and the Reserve Bank of Australia, are likely supporting the move, with the BoE’s relatively hawkish stance contrasting with the RBA’s more cautious outlook.
Resistance Levels: 2.0605, 2.0740
Support Levels: 2.0354, 2.0240
EURJPY, H4
The EUR/JPY pair has broken decisively above a significant resistance level that had capped upward moves for the past two months, signaling a potential resumption of its strong bullish trend. The pair had advanced more than 7% since May before entering a prolonged consolidation phase near multi-year highs, reflecting a period of profit-taking and equilibrium between buyers and sellers.
The breakout suggests renewed bullish conviction, with the pair now poised to test higher resistance levels. The move is supported by strengthening momentum conditions: the Relative Strength Index is advancing toward overbought territory, indicating sustained buying pressure, while the Moving Average Convergence Divergence has rebounded above its zero line and continues to trend higher, confirming that upward momentum is accelerating.
The pair now faces near-term resistance near the 175.00 psychological level, with a clear break above likely opening the path toward the next significant technical zone near 176.50. Fundamental drivers, including widening interest rate differentials between the European Central Bank and the Bank of Japan, are likely contributing to the pair’s strength, with the ECB maintaining a relatively hawkish stance compared to the BOJ’s persistently accommodative policy.
Resistance Levels: 175.40, 177.80
Support Levels: 173.50, 171.50
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