| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Buy | Buy |
| RSI(14) | Buy | Neutral | Sell |
| Stochastic(5;3;3) | Buy | Buy | Neutral |
| Alligator(13;8;5) | Sell | Neutral | Buy |
| SAR(0.02;0.2) | Sell | Sell | Buy |
| Aggregate | ⇒ | ⇒ | ⇗ |
The USD/TRY currency pair failed to exceed the psychological level at 7.2500. Since the beginning of May, the pair has been trading downwards.
Note that the exchange rate is pressured by the 55-, 100– and 200-hour moving averages, currently located in the 6.9250/7.0420 range. Thus, some downside potential could continue to prevail in the market. In this case the rate could drop to the Fibo 23.60% at 6.4311.
On the other hand, the currency pair could gain support from the monthly PP at 6.8637. If the given level holds, it is likely that a reversal north could occur, and the pair could re-test the 7.2500 level within the following trading sessions.