AUDUSD rose in recent intraday trading as the pair attempts to recover part of its previous losses while easing oversold conditions in relative strength indicators. Positive signals have started to emerge from these indicators, supporting a short-term rebound.

However, the pair continues to trade below its EMA50, which remains a key dynamic resistance level and reinforces the dominant short-term bearish trend. Price action also continues to follow a descending trendline, further supporting the negative outlook.

USDCAD surged high in recent intraday trading, breaching 1.4075 resistance, which was our latest upside target. The pair remains firmly supported by the dominant short-term bullish trend, trading along an ascending trendline while holding above its EMA50, which continues to provide positive dynamic support.

Despite the strong upward momentum, caution is warranted as relative strength indicators have begun to show a bearish crossover after reaching heavily overbought levels. This may limit the pace of further gains in the near term.

USDJPY surged higher in recent intraday trading, to challenge the key resistance at 160.70, which was a target in our previous outlook, supported by continued trading above the EMA50, providing strong dynamic support and reinforcing the prevailing short-term bullish trend.

Further strength comes from improving technical indicators, as relative strength indicators have started to form a bullish divergence after reaching deeply oversold levels. Emerging positive signals suggest that upside momentum may continue in the near term.

GBPUSD rose slightly in recent intraday trading, attempting to recover part of its previous losses after breaking below the pivotal support level at 1.3320. However, the pair remains under negative pressure as it continues to trade below its EMA50, which acts as dynamic resistance and limits the chances of a sustained recovery.

The technical outlook remains bearish in the short term, with price moving along a bearish trendline. In addition, relative strength indicators continue to generate negative signals.