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Abstract：USD/TRY struggles to defend buyers, down 0.25% intraday while easing to $13.62 amid Fridays Asian session.
USD/TRY: Four-hour chart
USD/TRY snaps two-day uptrend during a sluggish session, retreats from daily high of late.
A bullish moving average crossover, firmer RSI favor buyers.
12-day-old support line adds to the downside filters, monthly horizontal line restricts immediate upside.
The Turkish lira (TRY) pair rose during the last two days before easing from $13.67. The pullback moves, however, remain elusive due to the golden cross on the four-hour (4H) play.
A golden cross is the bullish moving average crossover wherein the 50-SMA crosses the 200-SMA from the upside to signal the underlying assets further advances.
That said, the USD/TRY prices need to overcome the $13.70 immediate hurdle ahead of confronting the monthly resistance line near $13.95.
During the quotes upside past $13.95, the December 21 peak of $14.13 will act as the key hurdle to the USD/TRY rally.
On the contrary, the stated SMA convergence near $13.50 restricts the short-term downside of USD/TRY.
Following that, an upward sloping trend line from January 12, near $13.35, will be important before welcoming the USD/TRY bears.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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