The USD/JPY pair rallied at the opening of the week and created a small price gap, thus extending its gains in intraday trading after leaning on the support of the 50-candle SMAl, while also testing the lower limit of an ascending correctional price channel that guided short-term trading, with the price’s gains coming after venting off overbought saturation in the Stochastic, with positive signals streaming out of it once more.

The EUR/USD pair lost ground in intraday levels and leaned on the pivotal support of $1.0820, representing the neckline of a negative technical pattern that formed in the short term, the Double Top pattern, with negative pressures mounting as the price continues to trade below the 50-candle SMA, while hurt by piercing the secondary upward trend line previously.

The GBP/USD price settled lower in the intraday levels, while hurt by the Rising Wedge pattern in the short term, with ongoing negative pressure due to trading below the 50-candle SMA.

Positive signals are starting to stream out of the Stochastic after it reached oversold levels,with the price potentially finding some support to help it recoup some recent losses.

The New Zealand Dollar versus the US Dollar (NZD/USD) fell in its recent intraday trading, breaking out of an ascending price channel that had previously bounded its short-term trading, thereby signaling the continuation of that bearish corrective wave, especially with the negative pressure from the 50-period simple moving average and the influx of negative signals from the Relative Strength Index, after the pair succeeded in offloading its oversold condition.

Accordingly, our forecast indicates further declines in the NZD/USD price in its upcoming intraday trading, as long as the resistance at 0.5765 holds, targeting the key support level at 0.5690.