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USD/TRY Daily Technical Analysis | 26 September 2017

2017-09-26 09:15 am | Resource: Technical Analysis Section | No Views : 162

Our neutral view of USD/TRY is the result of a break in the base of the bullish trend forming a lower than the previous level and breaking the previous bottom, confirming the overlap of the SMA 20 with the pair pointing to the lack of a specific direction currently.

USD/TRY  Daily Technical Analysis | 26 September 2017

RSI 14 breaks the bullish trend line and is currently trading in a bearish direction. This may be a warning that the minor bullish trend line may breach the pair against the Turkish currency.
 It is expected that, if USD/TRY breaks, the level of 3.5115 may target the level of 3.5030 while in case of breach, the level of 3.5495 may target the level of 3.5766.
Support: 3.5115 - 3.5314 - 3.4721
Resistance: 3.5495 - 3.5766 - 3.6014
Trend: neutral

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