The NZDUSD pair extended its decline during recent intraday trading, continuing to move along a descending trendline that supports the short-term bearish path. The pair remains under negative pressure as it trades below the EMA50, which limits the chances of a sustainable recovery in the near term.

This comes alongside continued negative signals from relative strength indicators, despite reaching deeply oversold levels, reflecting the strength of the current bearish momentum and keeping downside risks active.

The AUDUSD pair settles lower during recent intraday trading, as it continues to suffer from negative momentum caused by trading below the EMA50, whish limited previous recovery attempts, while the short-term bearish trend remains dominant, with price action moving along a descending trendline supporting this path.

In addition, relative strength indicators continue to provide negative signals, adding further pressure on the pair’s upcoming movements and reinforcing the bearish outlook.

The USDCAD pair continued its series of gains during recent intraday trading, approaching the key resistance level at 1.4135, which had been one of our projected upside targets. The pair remains supported by trading above the EMA50, reinforcing the short-term bullish trend, while price action continues to follow an ascending trendline.

However, relative strength indicators have started to generate negative signals after reaching overbought territory. This may slow the pace of the advance as the pair attempts to reduce some of the strong buying momentum before continuing higher.

The USDJPY pair moved lower in recent intraday trading after reaching the 161.50 resistance level, which represented our final upside target. The decline appears to be a profit-taking move following previous gains, while the pair also attempts to ease its overbought conditions as relative strength indicators begin to generate negative signals.

Despite this pullback, the overall technical outlook remains positive. The pair continues to trade within a short-term uptrend, supported by an ascending trendline and sustained trading above the EMA50, which provides dynamic support and enhances the prospects for renewed gains.