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 1.3419 and the resistance level at 1.3574, where the market chart progresses slightly below the exponential moving averages with a period of 21 and 55 days, demonstrating the advantage of sellers and the continuation of the downward trend in this market in the short term.
On the four-hour chart, the moving averages continue to move down and increase the divergence, but they slowed down slightly, which still indicates the strengthening of bears in this market in the short term.
The technical picture also demonstrates the advantage of bears with the strengthening of the downward potential, since the MACD histogram has entered the area below its central line, and the strength indicator of the current RSI movement has dropped to the 30 line, confirming the potential of sellers in this market in the short term.
Thus, we intend to sell this trading instrument today.