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USD/TRY Daily Technical Analysis | 2 October 2017

2017-10-02 08:47 am | Resource: Technical Analysis Section | No Views : 174

USD/TRY broke of the downtrend during the US session at the end of last month, and the simple moving average 20 miles to the top to show a change in the upside.

USD/TRY  Daily Technical Analysis | 2 October 2017

Relative Strength Index 14 has breached the downside trend line and is currently trading in a bullish direction to the 50 level indicating the strength of the bulls, which is confirmed by the ADX index, which is close to 60.
 It is expected that if the USD breached against TRY, the level of 3.5766 might target the level of 3.6014 while in case of failure, the breach of 3.5766 might target the 3.5495 level.
Support: 3.5495 -3.5314 -3.5115
Resistance: 3.5766- 3.6014 - 3.6253
Trend: Up


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