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USD/TRY Daily Technical Analysis | 2 February 2018

2018-02-02 11:15 am | Resource: Technical Analysis Section | No Views : 336

USD/TRY support area of ​​3.7411 on the 60-minute time frame as a result of bear pressure on the pair during the European session.

USD/TRY Daily Technical Analysis | 2 February 2018

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
Trend: neutral

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