USD/TRY Daily Technical Analysis | 9 February 2018
2018-02-09 08:28 am | Resource: Technical Analysis Section | No Views : 411
Our neutral view on the pair's trading due to the lack of confirmation of breaking the ascending trend line, and the simple moving average 20 represents a resistance area.
The RSI 14 is still trading in a major bullish direction but falling to 44 levels, it broke the minor ascending trend line during yesterday's trading.
It is expected that, if the pair breaks the currency against the Turkish currency 3.7990 may target areas of 3.7411 while, if the breach of the level of 3.8224 may target 3.8424.
Support: 3.799- 3.7411 - 3.7007
Resistance: 3.8424 - 3.8973 - 3.9467
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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