The AUDUSD pair declined during recent intraday trading as it prepares to break the key support level at 0.7135. This comes amid the dominance of a short-term corrective bearish wave, following the pair’s earlier break below a major bullish trendline. Negative pressure also continues as the pair trades below the EMA50, increasing bearish pressure, especially with continued negative signals coming from the relative strength indicators.

The USDCAD pair is moving within a narrow sideways range during recent intraday trading as it attempts to gain positive momentum that could help it recover and move higher again. The pair continues to trade alongside a short-term corrective bullish trendline, while maintaining positive dynamic pressure by trading above the EMA50, which supports the chances of recovery in the near term.

This comes alongside emerging positive signals from the relative strength indicators after reaching oversold levels, adding further support to the bullish outlook.

The USDJPY pair witnessed volatile intraday trading as it attempts to gain positive momentum that could help it break the current resistance level at 158.95. This comes amid the dominance of a short-term corrective bullish trend, with the pair moving alongside a supportive trendline. Positive pressure also continues as the pair trades above the EMA50.

In the background, a positive divergence is beginning to form on the relative strength indicators after reaching heavily oversold levels compared to price movement, while fresh positive signals are starting to emerge.

The GBPUSD pair declined during recent intraday trading amid the dominance of a short-term corrective bearish trend amid the dominance of the bearish corrective trend on the short-term basis, this decline came after series of consecutive gains that helped the pair to recover big part of its previous losses, amid the continuation of the negative pressure that comes from its trading below EMA50, which reduces the chances of full recovery in the near upcoming period, beside forming negative divergence on the relative strength indicators, after reaching exaggerated overbought levels compared to the price move, with the emergence of the negative signals.