The NZDUSD pair declined in recent intraday trading, as a steep short-term bearish wave continues to dominate price action. The pair is still moving along a descending trendline, while trading below the EMA50, which increases downside pressure and reinforces the bearish outlook.

On the other hand, relative strength indicators have begun to show a bullish crossover after reaching deeply oversold levels. This may help slow further losses and trigger limited corrective rebounds as the pair works off oversold conditions.

AUDUSD settles with series of consecutive losses in recent intraday trading, after reaching our expected target at 0.7040 support, witnessing some fluctuating moves to attempt to recover some of its losses, at the same time, the price is attempting to offload some of its clear oversold conditions on the relative strength indicators, especially with the emergence of positive signals from there, affected by surpassing bullish channel’s range that limited its short-term trading. 

The USDCAD pair remains stable near strong gains in recent intraday trading, holding above the 1.3940 resistance level, which had been identified as a price target in previous analyses. The short-term bullish trend continues to dominate, supported by movement along an ascending trendline and sustained trading above the EMA50, which provides dynamic support and strengthens the case for further gains.

However, relative strength indicators began to show a bearish crossover after reaching heavily overbought levels. This could limit the pace of future gains and lead to temporary consolidation before the next move higher.

The USDJPY pair continues to hold on to its recent intraday gains, supported by trading above EMA50, which reinforces the stability of the short-term bullish trend. Price action also remains aligned with an ascending trendline, highlighting the strength of the upward movement.

In addition, relative strength indicators continue to provide positive signals despite reaching overbought territory, suggesting that bullish momentum remains intact for now.