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USD/TRY Daily Technical Analysis | 27 December 2017

2017-12-27 08:26 am | Resource: Technical Analysis Section | No Views : 184

USD/TRY to test the broken bullish trend line during yesterday's trading and failed to breach the 3.7580 level and currently trades in the higher areas of 3.7928.

USD/TRY Daily Technical Analysis | 27 December 2017

Our neutral view on the price of the pair as a result of the lack of confirmation of breaking the bullish trend line which we mentioned during the report yesterday, and the simple moving average 20, neutral signal due to interference with the movement of the pair.
RSI 14 is trading in a bearish trend in formation and currently a positive technical divergence is appearing in the configuration on the hourly interval.
It is expected that, if the pair breaks against the Turkish currency level of 3.7837 may target 3.7525 while, if the breach of the level of 3.8075 may target 3.8268.
Support: 3.7928- 3.7525 - 3.7005
Resistance: 3.8075 - 3.8424 - 3.9003
Trend: Down

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