Brent crude oil recorded strong gains during its recent intraday trading, as the price moved higher to retest the key psychological resistance level at $100.00. This rise was supported by positive signals from relative strength indicators after reaching oversold levels.

The price is also approaching the resistance of the EMA50, while a short-term corrective bearish trend remains dominant, which may limit further gains in the near term.

The USDCHF pair rose during its recent intraday trading, supported by positive signals from relative strength indicators. This rise brought the pair back to retesting the key resistance level at 0.7925.

This comes as the pair remains affected by a previous break of a main upward trendline in the short-term timeframe, while negative pressure persists due to trading below EMA50. This reduces the chances of a sustained recovery in the near term.

The NZDUSD pair declined during its recent intraday trading, reaching the support level at 0.5815. This stopped the strong losses, as the pair attempts to gain positive momentum that could support a recovery and a renewed upward movement.

This comes with the relative strength indicators reaching deeply oversold levels, in an exaggerated manner compared to the pair’s price movement. With the continuation of the trading above EMA50, which strengthens the chances of a near-term recovery.

The AUDUSD pair is stabilizing after recent intraday losses, following its rebound from the key support level at 0.7020. This support provided the pair with some positive momentum, helping it bounces higher and recover part of the losses seen at the beginning of the week.

The pair is now attempting to form a higher low, which could serve as a base for further gains and support a potential recovery and upward movement. This comes amid continued positive pressure as the price trades above EMA50, along with the dominance of a short-term corrective bullish wave. Meanwhile, relative strength indicators have reached deeply oversold levels compared to the price movement.