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USD/TRY 24/04/19 | EconAlerts

Technical Analysis – USD/TRY challenges 6-month highs

USD/TRY challenges 6-month highs; trades well above SMAs. USD/TRY has advanced above the 20- and 40-day simple moving averages (SMAs) and the 23.6% Fibonacci retracement level of the sell-off from 7.1135 to 5.1330, hitting a new six-month high of 5.8753. Looking at the technical indicators, the stochastic is switching to the upside, challenging the overbought

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