The (AUDUSD) price witnessed fluctuated moves in its last intraday levels, attempting to recover its previous losses, and offloading some of its clear oversold conditions on the relative strength indicators, especially with the emergence of positive overlapping signals, affected by breaking main bullish trend line on the short-term basis, with the continuation of the negative pressure that comes from its trading below its EMA50, preventing the pair’s recovery in the upcoming period.
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The (USDCAD) price rose in its last trading on its intraday levels, preparing to attack the critical resistance level at 1.3800, supported by the positive signals from the relative strength indicators, after offloading the overbought conditions in its previous trading, opening the way for achieving more of the gains, on the other hand, the pair still under negative pressure due to its trading below its EMA50, which might obstruct the price’s recovery on the near-term basis.
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The (USDJPY) rose in its last intraday trading, breaching its current resistance at 148.00, supported y its continued trading above EMA50, and under the dominance of strong bullish wave on the short-term basis, besides the emergence of the positive signals on the relative strength indicators, after offloading the overbought conditions in its previous moves, opening the way for achieving more of the gains on the near-term basis.
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The (GBPUSD) price continued its decline in its last intraday trading, amid the dominance of bearish correctional wave on the short-term basis, affected by the negative pressure of its trading below EMA50, surpassing the support of main bullish trend line on the short-term basis, intensifying the negative pressure when confirming breaking it.
On the other hand, we notice the emergence of positive overlapping signals from the relative strength indicators, after reaching oversold levels, which might decelerate the upcoming losses, and we might witness some upside rebounds due to their neediness to offload some of these conditions.
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