Brent crude oil settled lower during its latest intraday trading, with the emergence of positive overlapping signals from the relative strength indicators, after reaching oversold levels, stopping the losses and making the price attempt to offload the oversold conditions, amid the continuation of the negative pressure due to its trading below EMA50, reducing the chances of sustainable recovery on near-term basis, with its trading alongside supportive trend line for this path.

The USDCHF pair rose in its latest intraday trading after stabilizing of the 0.7800 support level, which had been a price target in our previous analysis. The pair is using this support to recover previous losses, and it managed to offload its oversold conditions on the relative strength indicators, amid the dominance of the bearish corrective trend on short-term basis, with its trading alongside steep supportive bearish trend line for this path.

The NZDUSD pair declined during its latest intraday trading after reaching our target at the 0.5910 resistance level. The pair entered a natural profit-taking phase following its previous gains, while attempting to regain positive momentum that could help it break above this resistance.

At the same time, the pair is trying to relieve its prior conditions on the relative strength indicators, with mixed signals appearing. This comes amid a strong short-term bullish corrective wave, supported by continued positive momentum as the price trades above EMA50, which enhances the chances of further recovery in the near term.

The AUDUSD pair edged slightly lower during its latest intraday trading after holding at the current resistance level of 0.7135, which represented our second price target in yesterday’s session. The pair is undergoing a natural profit-taking phase following previous gains, while also attempting to relieve its overbought condition on the relative strength indicators, especially with the emergence of negative signals. This may help it rebuild positive momentum to resume its upward movement in the near term, amid a dominant short-term bullish trend.