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USD/TRY Daily Technical Analysis | 4 January 2018

2018-01-04 10:20 am | Resource: Technical Analysis Section | No Views : 158

USD/TRY continues to trade between 3.7982 and 3.592 zones and yesterday the pair failed to breach the 3.7795 area due to weak momentum.

USD/TRY Daily Technical Analysis | 4 January 2018

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
Direction: neutral


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