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USD/TRY Daily Technical Analysis | 31 January 2018

2018-01-31 07:57 am | Resource: Technical Analysis Section | No Views : 289

Our neutral view of the trading of USD/TRY as a result of the pair breaking the trend line on the hourly time during the Asian session this morning but without confirmation so far this result of the failure of bulls to penetrate the area of 3.7858.

USD/TRY Daily Technical Analysis | 31 January 2018

The SMA 20 is bearish.
RSI 14 is trading in a bearish direction as a result of breaking the classical ascending channel which is supporting the sellers.
It is expected that if the pair breaks against the Turkish currency at 3.7515, the trend will turn to the downside and may target 3.72 zones while, if a breach of 3.7743 might target 3.7940.
Support: 3.7411 - 3.7007 - 3.6484
Resistance: 3.799- 3.8424 - 3.8973
Trend: Down


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