At trading in Asia on Wednesday, this currency pair is trading with a slight decrease in price, remaining within the current support level at 0.9137 and at the resistance level around 0.9226.
On the four-hour chart, the moving averages with a period of 21 and 55 have slowed down and seem ready to start a downward turn, steadily maintaining the divergence, which demonstrates the loss of advantage by buyers in this market. The price chart so far remains in the area slightly above the exponential moving averages, confirming that the upward potential of this market remains in the short term.
The technical picture shows the transition of the initiative in this market from bulls to bears, as the MACD histogram moved to the area just below its central line, and the strength indicator of the current RSI movement fell to the 50 line, which confirms the change of the initiative in this market in the short term.
Thus, we intend to sell this trading instrument today.