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USD/TRY Daily Technical Analysis | 1 February 2018

2018-02-01 08:49 am | Resource: Technical Analysis Section | No Views : 315

During the European session yesterday morning, USD/TRY broke against the Turkish lira higher secondary trend on the time frame 60 minutes as a result of the sellers covered the pair.

USD/TRY Daily Technical Analysis | 1 February 2018

The pair is trading in a major bearish direction while our short-term outlook is neutral due to trading in a narrow range around the support level 3.7411 and the SMA 20 is neutral as a result of the pair's interaction.
RSI 14 broke through the bearish trend line during the US session yesterday and then began to move sideways (neutral signal).
It is expected that, if the pair breaks the currency against the Turkish currency 3.7335 may target areas of 3.72, but if the breach of the level of 3.7526 may target 3.7865.
Support: 3.7411 - 3.7007 - 3.6484
Resistance: 3.799- 3.8424 - 3.8973
Trend: neutral


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