At the auction in Asia on Monday, this currency pair is trading with an increase in price, remaining within the current support level at 0.9259 and at the resistance level around 0.9315.
On the four-hour chart, the moving averages with a period of 21 and 55 turned down, reduced the discrepancy to a minimum and are ready to form a sell signal, which demonstrates the advantage of sellers in this market. The quotation chart progresses in the area just below the exponential moving averages, confirming the downward potential of this market in the short term.
The technical picture also demonstrates the advantage of bears in this market, since the MACD histogram remains in the area below its central line, and the strength indicator of the current RSI movement has fallen below the 50 line, which confirms the advantage of bears in the short term.
Thus, we intend to sell this trading instrument today.