USD/TRY 1H Chart: Double Top

Source: Dukascopy Bank SA
© Dukascopy Bank SA
A recent bullish wave from 2.0750 encountered a tough resistance level at 2.1560. Since two distinct consecutive attempts of the currency pair to overcome this level failed, there is a high possibility USD/TRY is forming a double top pattern.
If this is the case, then the neck-line at 2.1237 is in danger, despite being reinforced by the daily S2 level. In case this support is broken, as suggested by the hourly and four-hour technical indicators, it will pave the way towards the Jun 12 low at 2.10 and at the same time leave a possibility for the dip to extend even deeper, down to the Jun 6 low at 2.0750. 
© Dukascopy Bank SA
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