With the opening of trading in Asia on Tuesday, this currency pair is trading with a decrease in quotations, remaining within the current support level at 1.3801 and the resistance level at 1.3909, where the market chart progresses below the exponential moving averages with a period of 21 and 55 days, demonstrating the advantage of sellers in this market in the short term.
On the four-hour chart, the moving averages have slowed down and turned down, reducing the discrepancy and are ready to form a sell signal, which indicates in favor of a downward movement of this market in the short term.
The technical picture also demonstrates the advantage of bears, since the MACD histogram has entered the area below its central line, and the strength indicator of the current RSI movement has fallen to the 40 line, confirming the bearish potential of this market in the short term.