USD/TRY 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
USD/TRY set foot in an ascending channel pattern on February 23, and has been respecting its bounds ever since. The pair has just hit the daily R1 at 3.7691 and is showing trouble to push through, suggesting that the up-wave might be complete for now and the bottom boundary might come into play sometime soon. Immediate support lies at 3.6659 and could be tested along with the channel trend-line later this session. On a larger scale, 3.8993 will be the ultimate high for an extended rally and corresponds to January highs.
© Dukascopy Bank SA
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