The (USDCHF) price declined in its last intraday trading, amid its affection by breaching bearish corrective trendline on the short-term basis, supported by its trading above EMA50, attempting to gather the gains of its previous rises, and attempts to offload some of its overbought conditions on the relative strength indicators, especially with the emergence of negative crossover, to gather its positive strength that helped it to resume its strong gains in the upcoming period.
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The (NZDUSD) price rose in its last intraday trading, affected by its leaning on the support of EMA50, gaining bullish momentum that helped it to achieve these gains, amid the dominance of the bullish corrective trend on the short-term basis and its trading alongside supportive trendline, besides the emergence of positive overlapping signals on the relative strength indicators, after offloading its overbought conditions, which opens the way for achieving more gains on the near-term basis.
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The (AUDUSD) price surged high in its last intraday trading, after offloading its overbought conditions on the relative strength indicators, to begin showing positive crossovers, reinforcing the stability of the dominance bullish corrective trend on the short-term basis, and its trading alongside supportive trendline, besides the continuation of its trading above EMA50.
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The (USDCAD) price settled with strong gains in its last intraday trading, after leaning on 1.3890 support, which represents our yesterday’s expected target, to reach it and bounce higher from there, supported by the emergence of the positive signals on the relative strength indicators, after reaching oversold levels.
The price is retesting the key resistance at 1.3940, amid the dominance of the bearish corrective trend and the continuation of the negative pressure due to its trading below EMA50, reducing the recovery chances on the near-term basis, especially with the relative strength indicators reaching overbought levels, that suggest a quick fading for the bullish momentum.
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