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USD/TRY Daily Technical Analysis | 9 February 2018

2018-02-09 08:28 am | Resource: Technical Analysis Section | No Views : 394

USD/TRY continued to rise during yesterday's trading as a result of the pressure of the pair on the pair and increased their resolve until almost the end of the trading session of the US began the bull in weakness, which led to the break of the rising trend line during the Asian session this morning.

USD/TRY Daily Technical Analysis | 9 February 2018

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
Trend: Up


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