USD/TRY Daily Technical Analysis | 7 February 2018
2018-02-07 07:52 am | Resource: Technical Analysis Section | No Views : 345
Currently the pair is trading in a bearish direction in a sub-configuration, and the simple moving average 20 crosses negatively with the broken bullish line which supports the sellers.
RSI 14 broke the ascending trend line during the European session yesterday morning and is still trading in a major bullish direction.
It is expected that, if the pair breaks the currency against the Turkish currency 3.7787 may target the areas of 3.7506 while, if the breach of the level of 3.7602 may target 3.7737.
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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