The USDCHF pair continued its upward movement during recent intraday trading, supported by its sustained trading above the EMA50, which reinforces the dominance of the short-term bullish trend. The pair is also moving along an ascending trendline that supports this positive path.

However, relative strength indicators have started to show a negative crossover after reaching overbought levels, which may limit the pace of gains in the near term as the pair attempts to ease some of its buying pressure.

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.