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USD/TRY Daily Technical Analysis | 2 January 2018

2018-01-02 09:05 am | Resource: Technical Analysis Section | No Views : 177

USD/TRY failed to break the 3.7525 level during the European session last year, so the pair rebounded to 3.7874 and failed to breach the minor resistance at 3.7831.

USD/TRY Daily Technical Analysis | 2 January 2018

Our neutral view on the pair's trading between the levels of 3.7982 to the areas of 3.7592, and the simple moving average 20 is currently overlapping with the movement of the pair is also neutral signal.
RSI 14 is in a weak position. The indicator after that, breached the bearish trend line on the hourly interval failed to stabilize above 50 areas and returned to the downside again.
We expected no change due to the absence of significant price movements during Friday trading. If the pair breaks against the Turkish currency, the level of 3.7525 could target 3.7005, while the breach of 3.7678 might target 3.8048.
Support: 3.7525 - 3.7005 - 3.6484
Resistance: 3.7928- 3.8075 - 3.8424
Trend: neutral


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