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USD/TRY Daily Technical Analysis | 5 February 2018

2018-02-05 10:37 am | Resource: Technical Analysis Section | No Views : 319

USD/TRY breached the downtrend line on the 60-minute time frame at the beginning of today's trading but without confirming our neutral view on the pair's trading.

USD/TRY Daily Technical Analysis | 5 February 2018

The SMA 20 represents an important support area for the pair at the moment.
RSI 14 is a neutral view as a result of a sideways move following the breach of the bearish trend line during the European session last Friday.
It is expected that, in case the breach of the US currency against the Turkish currency 3.7639 may target areas of 3.7937, while in the case of breaking the level of 3.7515 may target 3.7182.
Support: 3.7411 - 3.7007 - 3.6484
Resistance: 3.799- 3.8424 - 3.8973
Trend: neutral


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