USD/TRY Daily Technical Analysis | 6 February 2018
2018-02-06 07:30 am | Resource: Technical Analysis Section | No Views : 299
Currently the pair is trading in a bullish direction under secondary formation, and the SMA 20 is neutral.
RSI 14 is trading in a major bullish direction and the secondary descending trend line was breached during the trading session.
It is expected that, if the pair breached the currency against the Turkish currency 3.7787 may target areas of 3.8424 on the other side, if breaking the level of 3.7632 may target 3.7123.
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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