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    USD/TRY Price Analysis: Golden cross on 4H keep buyers hopeful

    Abstract:USD/TRY struggles to defend buyers, down 0.25% intraday while easing to $13.62 amid Fridays Asian session.

      USD/TRY: Four-hour chart

    USD_TRY_28012022-637789336826127997.png
    •   USD/TRY snaps two-day uptrend during a sluggish session, retreats from daily high of late.

    •   A bullish moving average crossover, firmer RSI favor buyers.

    •   12-day-old support line adds to the downside filters, monthly horizontal line restricts immediate upside.

      The Turkish lira (TRY) pair rose during the last two days before easing from $13.67. The pullback moves, however, remain elusive due to the golden cross on the four-hour (4H) play.

      A golden cross is the bullish moving average crossover wherein the 50-SMA crosses the 200-SMA from the upside to signal the underlying assets further advances.

      That said, the USD/TRY prices need to overcome the $13.70 immediate hurdle ahead of confronting the monthly resistance line near $13.95.

      During the quotes upside past $13.95, the December 21 peak of $14.13 will act as the key hurdle to the USD/TRY rally.

      On the contrary, the stated SMA convergence near $13.50 restricts the short-term downside of USD/TRY.

      Following that, an upward sloping trend line from January 12, near $13.35, will be important before welcoming the USD/TRY bears.

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    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand
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