AUDUSD declined during recent intraday trading, preparing to break the support at 0.7000, this support was an expected target in our previous analysis, amid the dominance of the main bearish trend on the short-term basis, with the continuation of the negative pressure due to its trading below EMA50, on the other hand, positive signals begin to emerge from the relative strength indicators, after reaching oversold levels, which might reduce the upcoming losses.
USDCAD provided during recent intraday trading, amid the attempts of breaching the key and stubborn resistance at 1.3940, support by its continued trading above EMA50, which reinforces the stability and dominance of the main bullish trend on short-term basis, especially with its trading alongside supportive trend line, besides the positive signals that comes from the relative strength indicators, after reaching exaggerated oversold levels compared to the price move.
USDJPY remains supported by recent intraday gains as it approaches the key resistance level at 160.70, which has been one of our previously identified targets, supported by trading along a short-term ascending trendline, while trading above EMA50, providing additional dynamic support, and relative strength indicators continue to generate positive signals, reinforcing bullish momentum and improving the chances of extending gains in the near term.
GBPUSD rose cautiously during recent intraday trading, but gains remained limited as the pair continues to trade below EMA50, which acts as dynamic resistance and restricts recovery attempts. The primary short-term downtrend also remains intact, with price movements continuing along a descending trendline.
At the same time, relative strength indicators are generating bearish signals after reaching overbought territory, suggesting weakening buying momentum and increasing the risk of renewed downside pressure.