Overall the Dollar Index and Euro are range bound between the broad 98-99 and 1.16-1.18 region. USDJPY can trade within 157-160 region for the near term while the EURJPY is stuck in the 186-188 zone. EURINR may test 109/108 before again rising towards 110-112.

The AUD/USD pair gives up its early gains and trades 0.24% lower around 0.7145 during the Asian trading session on Thursday.

GBP/USD was little changed on Wednesday, settling close to 1.3510 after a choppy session that reached 1.3540 in London hours before fading toward 1.3490. Price has been pinned inside a 65-pip band through midweek, with long upper and lower wicks pointing to two-way uncertainty.

NZDUSD declined during its recent intraday trading after failing to break the key resistance level at 0.5920. This came alongside negative signals from the relative strength indicators after reaching heavily overbought levels. However, those indicators are now entering deeply oversold territory relative to the pair’s movement, suggesting the potential emergence of renewed positive momentum.

The EUR/USD pair gathers strength to around 1.1710 during the early Asian session on Thursday. The Euro (EUR) strengthens against the US Dollar (USD) as US President Donald Trump’s extension of a ceasefire with Iran revives risk appetites.

AUDUSD declined in its recent intraday trading, amid emerging negative signals from the relative strength indicators, despite reaching oversold levels. This reflects the pair’s attempt to build positive momentum that could help it recover and move higher again, the pair is finding support at EMA50, which enhances the chances of a near-term recovery, especially with the dominance of the main short-term bullish trend.

USDJPY rose slightly during its recent intraday trading, with a short-term bullish trend dominance. The pair continues to receive positive support from trading above EMA50, which enhances the chances of extending gains in the near term, supported by positive signals from the relative strength indicators, following the formation of a bullish divergence after reaching deeply oversold levels compared to the pair’s price movement.

The GBPUSD pair declined in its recent intraday trading, as a short-term bearish corrective wave continues to dominate. This comes amid ongoing negative and dynamic pressure from trading below EMA50, which increases downside pressure on the pair, reinforced by negative signals from the relative strength indicators after reaching overbought levels, raising the likelihoods of extending losses in the near term.

The EURUSD pair continues to stabilize after a series of losses in its recent intraday trading, weighed down by ongoing negative pressure as it trades below EMA50, which still limits the chances of a full recovery in the near term.

USD/JPY was little changed on Wednesday, hovering close to 159.50 in a narrow session after Tuesday’s push to 159.64. Price has been confined between 159.10 and 159.60 through the midweek stretch, with overlapping small-bodied candles pointing to indecision.