AAATrade Blog | USDTRY: An Expected Move Towards The Overhead Support Level | Talkmarkets

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AAATrade Blog | USDTRY: An Expected Move Towards The Overhead Support Level | Talkmarkets

Usdtry forex.
Looking at the USDTRY Weekly chart, we can see its retraction from the 13.8 level to the 13.05 on the 13th of January, where it formed temporary support and bounced back reaching the 13.6 level, where it somehow managed to consolidate 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 an attempt to move towards the 13.6 price level.
If however, it doesn’t manage to hold on to the current level and consolidate, then we could expect a move towards the 13.3 support level.
(Click on image to enlarge)
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Disclaimer: Trading is risky. Information presented herein is not to be construed as a solicitation or an offer to buy or sell any Financial Instrument or to participate in any trading strategy.

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Source: AAATrade Blog | USDTRY: An Expected Move Towards The Overhead Support Level | Talkmarkets

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