The (NZDUSD) price rose strongly in its last intraday trading, approaching from retesting the critical resistance at 0.5965, supported by the emergence of the positive signals on the (RSI), to notice reaching overbought levels, which indicates the decline of the bullish momentum, amid the continuation of the negative pressure due to its trading below EMA50, and under the dominance of the bearish correctional trend on the short-term basis and its trading alongside a bias line.

The (AUDUSD) price extended its gain in its last intraday trading, to breach the resistance levels, supported by the emergence of the positive signals on the (RSI), after reaching oversold levels, despite this strong rise the bearish correctional trend remains the dominant on the short-term basis, with the continuation of its trading below EMA50, putting pressure on the recovery attempts.

The (USDCAD) price declined in its last intraday trading, due to the stability of the current resistance at 1.3750, attempting to gather the gains of its previous rises, and offloading its clear overbought conditions on the (RSI), especially after the emergence of the negative signals from there, to gather its positive strength that might assist it to breach the mentioned resistance.

This comes amid the price trading alongside a bullish correctional trend line on the short-term basis, which supports the continuation of its trading above EMA50, which prevents revering the bearish scenario.

The (USDJPY) price declined in its last intraday trading, due to the stability of the stubborn key resistance at 149.00, with the emergence of the negative signs on the (RSI), after reaching overbought levels, the price is attempting to gain a bullish momentum that might assist it to recover and breach this resistance.

This comes amid the dominance of the main bullish trend and its trading alongside a minor bias line on the short-term basis, with the continuation of the positive pressure that comes from its trading above EMA50.

Therefore, our expectations suggest a rise in the (USDJPY) prices in the upcoming intraday trading, conditioned by its breaching the resistance at 149.00 initially, to target the initial resistance levels at 149.80.

The expected trading range is between 147.90 support and 149.20 resistance.

Today’s forecast: Bullish