The NZDUSD pair declined during its latest intraday trading after reaching our target at the 0.5910 resistance level. The pair entered a natural profit-taking phase following its previous gains, while attempting to regain positive momentum that could help it break above this resistance.

At the same time, the pair is trying to relieve its prior conditions on the relative strength indicators, with mixed signals appearing. This comes amid a strong short-term bullish corrective wave, supported by continued positive momentum as the price trades above EMA50, which enhances the chances of further recovery in the near term.

The AUDUSD pair edged slightly lower during its latest intraday trading after holding at the current resistance level of 0.7135, which represented our second price target in yesterday’s session. The pair is undergoing a natural profit-taking phase following previous gains, while also attempting to relieve its overbought condition on the relative strength indicators, especially with the emergence of negative signals. This may help it rebuild positive momentum to resume its upward movement in the near term, amid a dominant short-term bullish trend.

The USDCAD pair moved higher during its latest intraday trading after stabilizing above the 1.3750 support level, which had been a price target in our previous analysis. The pair benefited from this positive momentum to recover part of their earlier losses. It also managed to relieve its oversold condition on the relative strength indicators.

However, this comes within the context of a dominant short-term bearish corrective trend, with price movements aligned along a descending trendline. In addition, continued negative pressure persists as the pair trades below its 50-period simple moving average, which further intensifies the overall downside pressure.

The USDJPY pair rose in its recent intraday trading, attempting to recover part of its previous losses. The pair is also trying to ease its oversold condition on the relative strength indicators, especially with the emergence of positive signals. However, this comes within the context of a dominant short-term bearish corrective wave, alongside continued negative dynamic pressure as the price trades below EMA50, which limits the chances of a near-term recovery.