With the opening of trading in Asia on Thursday, this currency pair is trading with a decrease in quotations, remaining within the current support level at 1.3731 and the resistance level at 1.3810, where the market chart progresses above exponential moving averages with a period of 21 and 55 days, demonstrating the advantage of buyers and the continuation of the uptrend in this market in the short term.
On the four-hour chart, the moving averages continue to move upwards, increasing the divergence, which indicates in favor of an uptrend in this market in the short term.
The technical picture shows a weakening of the bullish potential, as the MACD histogram dropped to the area just below its central line, and the strength indicator of the current RSI movement dropped below the 60 line, confirming the reduction of the bullish potential of this market in the short term.
Thus, we intend to stay out of this market today and wait for more clear and unambiguous signals to appear.