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USD/TRY: Pair To Test Overhead Resistance

By AAATrade LTDForexJan 18, 2022 05:35AM ET
www.investing.com/analysis/usdtry-pair-to-test-overhead-resistance-200615074
USD/TRY: Pair To Test Overhead Resistance
By AAATrade LTD   |  Jan 18, 2022 05:35AM ET
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Looking at the USD/TRY weekly chart, we can see its retraction from the 13.8 level to the 13.05, where it formed temporary support and bounced back, reaching the 13.6 level.

It consolidated for a few days. Yesterday, the 13.3 support was tested and proved solid enough to withstand another retraction.

It was last found trading at 13.45, with the closest overhead resistance at 13.6 and support at 13.3. Today, we could expect to move towards the 13.6 price level.

If it doesn’t hold on to the current level and consolidate, we could expect a move towards the 13.3 support level.

USD/TRY price chart.
USD/TRY price chart.

USD/TRY: Pair To Test Overhead Resistance
 

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USD/TRY: Pair To Test Overhead Resistance

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