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USD/TRY Daily Technical Analysis | 26 December 2017

2017-12-26 09:53 am | Resource: Technical Analysis Section | No Views : 180

USD/TRY broke the rising trend line during the US session last Friday, and the pair is currently attempting to bounce back from 3.7928.

USD/TRY Daily Technical Analysis | 26 December 2017

The pair is trading in a bearish direction over the hourly interval, and the SMA 20 has become a resistance level for the pair.
RSI 14 broke the minor bullish trend line during last week's trading, and the pair is still bearish as it is unchanged.
It is expected that if the pair breaks against the Turkish currency, the level of 3.78 may target 3.7616 on the other side, if the breach of the level of 3.81 may target 3.8690.
Support: 3.7928- 3.7525 - 3.7005
Resistance: 3.8075 - 3.8424 - 3.9003
Trend: Down


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