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USD/TRY Daily Technical Analysis | 5 January 2018

2018-01-05 09:21 am | Resource: Technical Analysis Section | No Views : 155

USD/TRY broke the minor bearish trend during the Asian session this morning as bulls tried to reduce their losses before the end of the week.

USD/TRY Daily Technical Analysis | 5 January 2018

The pair is trading in a bullish direction over the hourly interval, and the SMA 20 represents a support area for the pair.
RSI 14 is floating in a symmetrical direction within a classical symmetrical triangle pattern.
It is expected that if the pair breached 3.7525 against the Turkish currency, it might target 3.7995 on the other side, if a breach of 3.7294 might target 3.7005.
Support: 3.7005 - 3.6484- 3.5951
Resistance: 3.7525 - 3.7928 - 3.8075
Trend: Up

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