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USD/TRY Daily Technical Analysis | 22 December 2017

2017-12-22 07:40 am | Resource: Technical Analysis Section | No Views : 178

USD/TRY failed to breach the falling trend line Asian session today as it failed to reach any previous peak on the hourly interval due to weaker buyers.
 
USD/TRY Daily Technical Analysis | 22 December 2017

Currently, the pair is trading against the lira in a bearish direction and the simple moving average 20 is intertwined with the price movement and therefore our view is neutral.
RSI 14 is bearish and the indicator still shows a positive technical divergence in formation as shown above.
It is expected that if the pair breaks against the Turkish currency, the level of 3.8100 could target 3.7925 while in case of a breach, the level of 3.8239 might target 3.8389.
Support: 3.8075 - 3.7925- 3.7525
Resistance: 3.8424 - 3.9003 - 3.9467
Trend: neutral


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