The US dollar against the Turkish lira November 5, 2020

Technical Analysis
Thursday, November 05, 2020 - 05:22
Point Trader Group
The US dollar against the Turkish lira November 5, 2020

Overview:

prices are moving in an upward short-term direction.

Expected:

The pair is trading above a strong support level around 8.3916, which enhances chances of a bullish move during today's trading to 8.5110. 

Alternative Scenario:

On the other hand, we see that if the level of 8.3916 is broken to the downside, this pair might push down to 8.3638. 

 

Resistance8.51108.59178.6250
Support8.39168.38008.3625

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