USD/TRY with a strong resistance placed at 3.795

USD/TRY with a strong resistance placed at 3.795

USD/TRY is currently moving in a sideways range, but still it’s being favored by the bears amid a broad-based weakness seen in the US Dollar. The resistance zone of 3.795 still holds, as it coincides with the 65% Fibonacci area, which should help to produce pullbacks in order to put the focus on the -23.6% Fibo level at 3.700, which is a key psychological zone. To the upside, if it manages to break above 3.795, then it can test the 3.809 level.

RSI indicator is trapped in the neutral territory.



Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


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