USD/TRY Technical Analysis: Prepping for a re-test of 6.00
|- The USD/TRY hourly chart shows a bullish relative strength index (RSI) divergence. As a result, the pair could witness an upside break of the falling channel and rise above 6.00 in the next few hours.
- The bullish case would weaken if the falling channel resistance proves a tough nut to crack. That said, only a break below 5.79 would signal a continuation of the pullback from the record highs seen earlier this week.
Hourly chart
Spot Rate: 5.84
Daily High: 5.86
Daily Low: 5.80
Trend: Bullish
R1: 5.8694 (10-day moving average)
R2: 6.00 (50-hour moving average)
R3: 6.3656 (100-hour moving average)
Support
S1: 5.69 (recent low)
S2: 5.49 (trendline support)
S3: 5..09 (200MA on 4-hour chart)
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