USD/TRY Daily Technical Analysis | 2 October 2017
2017-10-02 08:47 am | Resource: Technical Analysis Section | No Views : 174
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
The pound came under pressure against its main rivals at the European session on Wednesday, as concerns over Britain's exit from the European Union intensified after UK lawmakers rejected Prime Minister Boris Johnson's proposed timetable for pushing the deal ahead of the October 31 deadline. Faradkar: Brexit will last for a long time Irish Prime Minister Leo Faradkar predicted on Wednesday that Britain's pullout from the European Union "will last…
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