After strong fluctuations on Thursday, with a range of just over 80 pips, the price for the Asian session today is held at an important key resistance of the embedded line of the price channel on the daily chart around 110.86. The price is above the MACD line of the daily scale (blue indicator line), but still below the balance line (red indicator line).
On the four-hour chart, the price has consolidated above both indicator lines. The marlin oscillator indicates a promising growth in prices. Consolidating prices above the level of 110.86 opens the way to the resistance of the upper boundary of the red price channel of the lower scale 112.90.
The material has been provided by InstaForex Company - www.instaforex.com