At trading in Asia on Friday, this currency pair is trading multidirectionally in a narrow range, remaining within the current support level at 0.9121 and at the resistance level around 0.9195.
On the four-hour chart, the moving averages with a period of 21 and 55 are developing very consolidated, maintaining a minimum discrepancy, which demonstrates the equivalence of the opposing sides in this market. The price chart progresses in the area just below the exponential moving averages, which confirms the slight advantage of the downward potential of this market in the short term.
The technical picture shows the same potential of the opposing sides, but with a slight advantage in the direction of bears in this market, as the MACD histogram progresses in the area just below its central line, and the indicator of the strength of the current movement of the RSI 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.