During the trades in Asia on Wednesday the EUR/USD currency pair is trading in decline and remains within the current support level at 0.9882 with the resistance level at 0.9984. The four-hour chart is progressing well below the exponential moving averages, demonstrating the downside potential of this market in the short term.
The moving averages with periods of 21 and 55 days continue to move downward, increasing the divergence, indicating the bearish potential of the current market trend in the short term.
The technical picture also shows the advantage of the sellers, as the MACD histogram remains in the area below its central line, and the indicator of the strength of the current movement RSI has fallen to the area of the 30 line, confirming the bearish potential of this market in the short term.
Thus, we intend to sell this trading instrument today.
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