- Analytics
- News and Tools
- Market News
- USD/TRY Price Analysis: Bulls jostle with monthly resistance near $13.60
USD/TRY Price Analysis: Bulls jostle with monthly resistance near $13.60
- USD/TRY grinds higher around intraday top, battles monthly resistance line.
- Sustained trading beyond 100-SMA, gradually rising RSI favor buyers.
- Sellers need validation from two-week-old horizontal support for the ruling.
USD/TRY seesaws around monthly resistance line, close to $13.55-60 heading into Friday’s European session.
That said, the Turkish lira (TRY) pair’s successful trading above the 100-SMA joins a gradually rising RSI line to suggest that buyers’ slow run towards the victory.
However, a clear upside break of $13.60 becomes necessary for them to challenge January’s peak surrounding $13.94.
Should the USD/TRY prices rally beyond $13.94, the $14.00 and December 21 peak of $14.14 will be in focus.
Alternatively, pullback moves may initially aim for the 100-SMA level of $13.49, a break of which will direct the quote towards the short-term horizontal support near $13.25.
During the USD/TRY weakness past $13.25, the January 12 low near $13.16 may offer an intermediate halt to the south-run targeting the $13.00 threshold.
USD/TRY: Four-hour chart
Trend: Further recovery expected
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
