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USD/TRY Daily Technical Analysis | 7 February 2018

2018-02-07 07:52 am | Resource: Technical Analysis Section | No Views : 345

During yesterday's trading, USD/TRY breached the secondary bullish trend line on the hourly interval due to the bear's pressure on the pair and the bulls failed to breach the 3.7865 high.

USD/TRY Daily Technical Analysis | 7 February 2018

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
Trend: Down


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