At trading in Asia on Monday, this currency pair is trading with a slight increase in quotations, remaining within the current support level at 0.9051 and at the resistance level around 0.9165.
On the four-hour chart, the moving averages with a period of 21 and 55 turned down and accelerated, increasing the divergence after the formation of a sell signal, which demonstrates the resumption of the downtrend in this market. The price chart progresses in the area significantly below the exponential moving averages, which confirms the increase in the downward potential of this market in the short term.
The technical picture also shows the strengthening of bears in this market, as the MACD histogram progresses in the area just below its central line, and the strength indicator of the current RSI movement has fallen to the 40 line, which confirms the bearish tendency in this market in the short term.
Thus, we intend to sell this trading instrument today.