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FxWirePro: USD/TRY halts 3-day losing streak, jump till 5.7067 likely

USD/TRY is currently trading 0.1 percent up at 5.6759, having hit a low of 5.6656 earlier, its lowest since September 18. Stochs are on the verge of a bullish crossover, minor jump expected RSI is weak at 46.66 and MACD …

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FxWirePro: USD/TRY halts 3-day losing streak, jump till 5.7067 likely
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  • USD/TRY is currently trading 0.1 percent up at 5.6759, having hit a low of 5.6656 earlier, its lowest since September 18. 
     
  • Stochs are on the verge of a bullish crossover, minor jump expected 
     
  • RSI is weak at 46.66 and MACD supports downside 
     
  • 21-EMA continues to act as minor resistance. 
     
  • Immediate resistance is located at 5.7281 (21-DMA), any close above could take it till 5.7650 (September 9 High).
     
  • On the downside, support is seen at 5.6600 (September 18 Low), and break below could take it near 5.6468.
     

Recommendation: Good to buy on dips around 5.6694, with stop loss of 5.6600 and target price of 5.7067.

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