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USD/TRY Daily Technical Analysis | 21 September 2017

2017-09-21 08:26 am | Resource: Technical Analysis Section | No Views : 187

USD/TRY rebounded at 3.4721 during the European session and before the start of the US session yesterday, and the pair rose strongly after the Federal Reserve yesterday, which pointed to the reduction of the US budget, which supports the dollar against a basket of currencies.

USD/TRY Daily Technical Analysis | 21 September 2017

The SMA 20 rises to the upside.
Relative Strength Index 14 broke through the bearish trend line during yesterday's trading, and rose towards the level of 70, which failed to penetrate twice and is now approaching again.
 It is expected that if the US currency breached against the Turkish currency, the level of 3.5115 might target the 3.5495 level on the side if the breach of the 3.5115 level could not target the 3.4721 level.
Support: 3.4721- 3.4575 - 3.4162
Resistance: 3.5115 - 3.5314 - 3.5495
Trend: Up

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