USD/TRY Technical Analysis: ascending triangle breakdown seen in 1H chart
|- The ascending triangle breakdown, as seen in the USD/TRY hourly chart, adds credence to the bearish RSI divergence and indicates scope for a deeper pullback to rising 50-hour moving average (MA), currently located at 6.5377.
- A move above 7.02 would invalidate the bearish view and could yield rally to fresh record highs above 7.0831.
Hourly chart
Spot Rate: 6.9114
Daily High: 6.9527
Daily Low: 6.8501
Trend: Bearish
R1: 6.9527 (session high)
R2: 7.02 (resistance as per the hourly chart)
R3: 7.08 (previous day's high)
Support
S1: 6.85 (session low)
S2: 6.65 (support as the hourly chart)
S3: 6.5377 (50-hour MA)
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