USD/TRY Daily Technical Analysis | 4 January 2018
2018-01-04 10:20 am | Resource: Technical Analysis Section | No Views : 158
The SMA 20 is trading higher above the pair and below it indicating that there is no clear direction for the pair.
RSI 14 is trading in a bullish direction during formation and during the trading session, the indicator crossed the bearish trend line on the hourly interval.
We expect a change in the result of no significant price action. If the pair breached 3.7795, it could target 3.7982 on the other side, if a break of 3.7525 could target 3.7005.
Support: 3.7525 - 3.7005 - 3.6484
Resistance: 3.7928- 3.8075 - 3.8424
The pound weakened against major currencies in the European session on Monday, amid renewed uncertainty over Brexit, with officials from the UK and the European Union saying at the weekend that more work was needed to secure the Brexit agreement. After intense talks in Brussels, the EU's chief negotiator, Michel Barnier, said there was still a "big gap" on tariff arrangements. The pound traded in a negative territory against…
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