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USD/TRY Daily Technical Analysis | 29 September 2017

2017-09-29 03:10 pm | Resource: Technical Analysis Section | No Views : 178

We noted in a report yesterday that if the USD/TRY crosses the 3.5642 level, a correctional wave may start. During the European session, the pair breached the 3.5642 and the trend line. Currently, the pair is trading in a down direction and the simple moving average is 20 Miles to the downside. It represents a resistance level.

USD/TRY  Daily Technical Analysis | 29 September 2017

RSI 14 is trading in a bearish direction and below the 50 level indicating the bear's control on the pair
 It is expected that, as long as USD/TRY is trading below the level of 3.5766 may target the level of 3.5237 while in the case of penetration, the level of 3.5656 may target the level of 3.5766.
Support: 3.5495 -3.5314 -3.5115
Resistance: 3.5766- 3.6014 - 3.6253
Trend: Down

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