USD/TRY holds ground above the 27.00 psychological level aligned to the immediate support level of 38.2% Fibonacci retracement at 26.82 during the Eur
A firm break below the latter could exert pressure on the USD/TRY pair to navigate the region around the 50-day Exponential Moving Average at 26.38, followed by the 61.8% Fibonacci retracement at 26.24 aligned to the 26.00 psychological level.
On the upside, the USD/TRY pair could face a challenge around the monthly high at 27.75, followed by August’s high at 27.88 level. However, the momentum in the pair indicates that bullish sentiment prevails in the market as the 14-day Relative Strength Index remains above the 50 level.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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