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Add as a preferred source on Google FxWirePro: USD/TRY rallies to 1-month peak, good to buy on dips The pair rallied to an over 1-month high, major resistance is located at 5.8581 USD/TRY is currently trading 0.1 percent up at 5.8391, having hit a high of 5.8456 earlier, its highest since August 30. RSI is strong at 64…
By FxWirePro Team Oct 8, 2019, 10:29 AM UTC
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The pair rallied to an over 1-month high, major resistance is located at 5.8581
USD/TRY is currently trading 0.1 percent up at 5.8391, having hit a high of 5.8456 earlier, its highest since August 30.
RSI is strong at 64.12, MACD supports upside and Stochs are biased higher
Immediate resistance level is located at 5.8581, any close above could take it till 5.9026.
On the downside, support is seen at 5.7913, and break below could take it near 5.7607.
Recommendation: Good to buy on dips around 5.8122, with stop loss of 5.7913, and target price of 5.8581.
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