Brent crude continued its upward move during recent intraday trading, breaking above the $106.00 resistance level, which had been a price target in our previous analysis. The main bullish trend dominates in the short term, with price movements aligned along a supporting trend line.

The pair also benefits from ongoing positive pressure as it trades above EMA50, while positive signals continue to appear from the relative strength indicators, despite reaching heavily overbought levels.

The USDCHF pair slightly pulled back during its recent intraday trading, taking profits from previous gains while attempting to gain bullish momentum that may support a renewed upward move. At the same time, the pair is easing some of its clearly overbought conditions on the relative strength indicators, which is beginning to show a negative crossover, following its recent break above our last price target at the 0.7910 resistance level.

The pair continues to benefit from dynamic support as it trades above EMA50, reinforcing the stability and dominance of the main bullish trend in the short term, with price movements aligned along a minor supporting trend line.

The NZDUSD pair recorded strong gains during its recent intraday trading, despite ongoing negative pressure from trading below EMA50. This continues to reinforce the stability and dominance of the main bearish trend in the short term, especially as price moves along a trend line supporting this downward path.

With this rise, the pair is attempting to recover part of its previous losses, while also easing its clearly oversold condition on the relative strength indicators, particularly with the emergence of a positive crossover.

The AUDUSD pair posted cautious gains during its recent intraday trading, as it attempts to recover part of its previous losses. However, a steep short-term corrective bearish wave continues to dominate, limiting the pair’s upside potential.

The pair is also under negative dynamic pressure due to trading below its EMA50, which reduces the chances of a near-term recovery. This is further supported by ongoing negative signals from the relative strength indicators.