The (AUDUSD) price declined in its last intraday trading, amid the attempts of looking for rising low to use it as a base to help it gain bullish momentum for its recovery, leaning on EMA50’s support, accompanied by testing 0.6680 key support, amid the dominance of the main bullish trend on the short-term basis, with its trading alongside supportive trend line for this trend, with the relative strength indicator’s reaching exaggerated oversold levels compared to the price movement, to indicate fading the negative pressure on the price.
The (USDCAD) price rose in tight range in its last intraday trading, after breaching main bearish trend line on the short-term basis, gaining bullish momentum that helped it to get rid of the negative pressure of EMA50, opening the way for targeting new resistance levels on the near-term basis, especially with the emergence of positive signals on the relative strength indicators, despite reaching overbought levels.
The (USDJPY) rose strongly in its last intraday trading, breaching the current resistance at 156.95, which represented potential target in our previous analysis, taking advantage of the dynamic support that is represented by its trading above EMA50, reinforcing the strength and dominance of the bullish trend on the short-term basis, especially with its trading alongside minor trendline, besides the emergence of positive signals from the relative strength indicators, after offloading its overbought conditions, opening the way for extending its gains in the upcoming period.
GBPUSD declined in its last intraday trading, breaking main bullish trend line on the short-term basis, putting it under negative pressure, which intensified by surpassing EMA50’s support, reinforcing the likelihoods of extending its losses on the near-term basis, with the emergence of the negative signals from the relative strength indicators, after offloading its oversold conditions.