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USD/TRY Daily Technical Analysis | 29 December 2017

2017-12-29 11:28 am | Resource: Technical Analysis Section | No Views : 164

USD/TRY broke the secondary bullish trend during the European session yesterday morning as a result of the sellers' pressure on the pair and the pair broke the 3.7928 level during yesterday's trading.

USD/TRY Daily Technical Analysis | 29 December 2017

It is trading in a major and minor downtrend on the hourly interval, and the SMA 20 crosses negatively with the pair and is trading in a bearish direction.
RSI 14 broke the bullish trend line during yesterday's trading and is currently trading in a bearish direction and as a result of the weakness of the sellers' momentum, the index closed above the 30 zones.
It is expected that if the pair breaks against the Turkish currency at 3.7525, it might target 3.7005 on the other side, if a breach of 3.7678 might target 3.8048.
Support: 3.7525 - 3.7005 - 3.6484
Resistance: 3.7928- 3.8075 - 3.8424
Trend: Down


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