The prices have been consistently below 21DMA, price slumps have remained below sloping side of the triangle ever since it has dropped from the resistance at 4.0145 levels.
is in convergence to the declining trend. While, %D crossover on oscillator signals selling momentum is intensified.
On a broader perspectives, "shooting star and hanging man" patterns were traced out back to back.
Ever the formation of these patterns, we've seen huge dips as the rejection of resistance at 4.0145 levels brings in little weakness in this pair.
and curves are also in conformity to the these dips,
crossover (%D at and %K at ) seen on above overbought zones.
is in an attempt to show convergence too.
Overall, as we've seen dips from the peaks of 4.2476 to the current 3.5637 levels (almost 16.11%), which makes the BRL the "7-month highs" in just a span of one month.
For now, the trend looks more bias as it has broken out the triangle baseline at 3.58 levels.