USD/TRY Price Analysis: Doji, overbought RSI teases sellers at yearly top near 16.50 By anilpanchal7 USDTRY Technical Analysis ChartPatterns Candlesticks SwingTrading
The Turkish lira pair’s pullback from 2022’s top the previous day portrays the quote’s U-turn from the resistance line of a three-week-old rising channel.candlestickHence, the USD/TRY prices are likely to witness a pullback towards the 16.00 threshold. Though, a convergence of the 10-DMA and support line of the aforementioned channel restricts the pairs’ further downside.
Alternatively, the pair’s further upside needs to cross the latest high surrounding 16.50 to reject the bearish candlestick formation. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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