USDTRY, February 9, 2021

Technical Analysis
Tuesday, February 09, 2021 - 13:42
Point Trader Group
USDTRY, February 9, 2021

Overview:

Prices are moving in a short-term downtrend

Expected:

The pair is trading below a strong resistance level around 7.1216, which might push the pair to go downwards to reach the level of 7.0523.

Alternative Scenario:On the other hand, we believe that if the level of 7.1216 is broken to the upside, the pair might be pushed further up to 7.1400.

Resistance7.14007.13517.1216
Support7.02127.03227.0523

 

  Disclosure of risk:     Point Trader Group will not accept liability for any loss or damage as a result of reliance on the provided information.


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