The AUDUSD pair declined during recent intraday trading after the key and strong resistance level at 0.7170 held firm, pushing the pair lower as it attempts to regain positive momentum that could help it break this barrier in the near term.

At the same time, the decline is seen as a corrective move to ease overbought conditions on the relative strength indicators, which have started showing negative signals. However, the pair is still trading along a short-term upward trend line and remains supported by its position above EMA50, which continues to provide dynamic support and improves recovery prospects.

The USDCAD pair witnessed volatile trading within a narrow sideways range during recent intraday sessions, as the pair attempts to gain positive momentum that could help resume its upward movement in the near term.

The short-term corrective bullish trend remains dominant, with price moving alongside a supportive trend line, while continued trading above EMA50 adds further positive pressure and strengthens recovery chances, especially with positive signals emerging from the relative strength indicators.

The USDJPY pair remains stable near a series of recent gains during intraday trading, supported by continued trading above EMA50, which provides positive momentum and increases the chances of extending gains in the near term amid a dominant short-term corrective bullish trend.

However, signs of a negative divergence are beginning to appear on the relative strength indicators after reaching heavily overbought levels compared to price action, with a bearish crossover also emerging, which may temporarily limit further upside momentum.

The GBPUSD pair posted slight gains in recent intraday trading amid the dominance of a short-term bullish wave, while continuing to trade above EMA50, which provides dynamic support and renewed positive momentum.

The pair is also supported by the emergence of a positive divergence on the relative strength indicators after reaching heavily oversold levels compared to price action, alongside the start of a bullish crossover that strengthens the chances of further recovery in the near term.