The currency pair US Dollar against the Turkish Lira USD/TRY continues to move within the downward channel. At the time of the publication of the forecast, the course of the US Dollar to the Turkish Lira is 5.66. At the moment, we should expect an attempt to test the resistance level near the 5.70 area and continue the pair falling to the area below the level of 5.40.
USD/TRY forecast Turkish Lira April 2, 2019
The test of the trend line on the relative strength index (RSI) will be in favor of the fall of the Turkish Lira quotations. As well as a rebound from the upper boundary of the descending channel. Cancellation option for falling USD/TRY on Forex will be a strong growth and the breakdown of 5.75 area. This will indicate a breakdown of the upper boundary of the channel and the continuation of the growth of quotations in the area above level 5.85. Waiting for confirmation that the pair is falling is with the breakdown of the support area and closing of the USD/TRY quotes below the level of 5.50.
USD/TRY forecast Turkish Lira April 2, 2019 implies an attempt to test the resistance area near the level of 5.70. Then, the continuation of the fall in the area below the level of 5.40. An additional signal in favor of the pair falling on FOREX will be a test of the trend line on the relative strength index (RSI). Cancellation option for the fall of the US dollar against the Turkish Lira will be a strong growth and the breakdown level of 5.75.