With the opening of trading in Asia on Monday, this currency pair is trading with a decrease in quotations, remaining within the current support level at 1.3185 and the resistance level at 1.3291, where the market chart progresses below 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 slowed down, reducing the divergence and formed a sell signal, which indicates the appearance of a bearish trend in this market in the short and medium term.
The technical picture also shows a slightly stronger sellers' positions, as the MACD histogram entered the area below its central line, and the strength indicator of the current RSI movement dropped to the 40 line, confirming the advantage of bears in this market in the short term.
Thus, we intend to sell this trading instrument today.