The AUDUSD pair extended its gains during recent intraday trading, preparing to challenge the key resistance level at 0.7130. This move is supported by its continued trading above the EMA50, which reinforces the stability and dominance of the main upward trend in the short term, especially as it moves along a supportive trendline. However, on the other hand, we notice the emergence of a negative crossover on the relative strength indicators, which may hinder the pair’s progress in the coming period.

The USDCAD pair declined slightly during its latest intraday trading, amid emerging negative signals from the relative strength indicators, as the pair attempts to gain positive momentum that may help it recover and rise again. This comes while a corrective upward trend dominates in the short term, with price movements aligned along a minor supportive trendline. In addition, dynamic support remains in place as the pair continues to trade above its EMA50, which enhances the chances of recovery in the near term.

The USDJPY pair is experiencing volatile intraday trading at its recent levels, supported by a main bullish trendline in the short term. It is attempting to form a higher low that could serve as a base to gain the positive momentum needed to resume its recovery. This is accompanied by support from the EMA50, which enhances the chances of the pair’s recovery in the coming period, especially with the emergence of a positive crossover on the relative strength indicators.

The GBPUSD pair is holding onto strong gains during its recent intraday trading, as it retests the key resistance level at 1.3350. This coincides with its contact with the resistance of the EMA50, while the main bearish trend continues to dominate in the short term, with price movements aligned along a downward trendline supporting this direction.

In the background, we notice the emergence of a negative crossover on the relative strength indicators after they reached heavily overbought levels, which indicates increasing negative pressure surrounding the pair in the upcoming period.