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.



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