USD/TRY Daily Technical Analysis | 1 February 2018
2018-02-01 08:49 am | Resource: Technical Analysis Section | No Views : 331
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
Pound fell in European trade on Wednesday after data showed that UK inflation rose to 1.5% in October UK producer prices fell to 0.8% in October UK inflation fell to 1.5% in October UK consumer prices rose to 1.5% in October from the same month last year, the Office for National Statistics said Wednesday. This figure is lower than September when the UK's annual inflation rate was 1.7%. The biggest…
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