USD/TRY Daily Technical Analysis | 2 February 2018
2018-02-02 11:15 am | Resource: Technical Analysis Section | No Views : 352
The pair is trading in a minor downside direction, and the simple moving average 20 is overlapping with the pair's movement, so our outlook is neutral.
Relative Strength Index 14 is trading in a cross-section between a classical symmetrical triangle.
It is expected that, if the pair breaks the currency against the Turkish currency 3.7211 may target areas of 3.70 on the other side, if the breach of the level of 3.7379 may target 3.7703.
Support: 3.7007 - 3.6484 - 3.6300
Resistance: 3.7411 - 3.799- 3.8424
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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