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USD/TRY Daily Technical Analysis | 8 January 2018

2018-01-08 11:20 am | Resource: Technical Analysis Section | No Views : 166

During Friday's trading, USD/TRY breached the support level of 3.7296 as a result of the sellers' pressure on the pair and the pair is still trading below these levels so far.
USD/TRY Daily Technical Analysis | 8 January 2018

During the Asian session this morning, the pair breached the minor descending trend line on the hourly interval, and our neutral view on the pair's trading due to lack of confirmation of the breach that occurred, and the simple moving average 20, neutral signal due to interference with the movement of the pair.
RSI 14 is trading in a bullish trend in formation after breaking through the bearish trend line during today's trading.
It is expected that, if the pair breached the Turkish currency against the Turkish currency level of 3.7472 may target 3.7743 while, if the break of the level of 3.7186 may target 3.7005.
Support: 3.7005 - 3.6484- 3.5951
Resistance: 3.7525 - 3.7928 - 3.8075
Trend: Up

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