USD/TRY Price Analysis: Hovers inside fortnight-old triangle around $13.50 By anilpanchal7 USDTRY Technical Analysis ChartPatterns SupportResistance SwingTrading
100/200-SMA confluence offers strong resistance inside immediate triangle.USD/TRY begins the trading week on a positive note around $13.48, up 0.10% intraday, during Monday’s Asian session.It should be noted, however, that sustained trading below the 100 and 200 SMA confluence, near $13.55, keeps USD/TRY sellers hopeful.
Even if the USD/TRY bears manage to conquer the $13.30 support, the $13.00 threshold will challenge the downside before highlighting the 61.8% Fibonacci retracement of December 24 to January 03 upside, near $12.40.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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