USD/TRY inside a demand zone, 4.1348 in focus

USD/TRY inside a demand zone, 4.1348 in focus

USD/TRY is looking to consolidate in a bullish bias following the retracement made from the April 24th highs at 4.1072. Currently, the pair is finding demand around the Fibonacci level of 65% at 4.0313, where a rebound is underway and we can expect further gains toward the Fibonacci zone of -23.6% at 4.1348. To the downside, a break below 4.0313 should expose the lows from April 18th near 3.9904.

RSI indicator remains in the positive territory, supporting the bullish idea.

USDTRYH1.png

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