Axel Rudolph, senior analyst at Commerzbank, points out that the USD/TRY cross suddenly rallied to its current March high at 5.8449 before coming off again in the past week. Key Quotes “This week we expect the cross to remain below this level and the 5.8692/5.9068 resistance area, made up of the early October low and the late October high. If so, a slip back towards the 5.5454/40 mid-January highs is expected to take place.” “Further support is seen along the 200 day moving average at 5.4692 and also along the 55 day moving average at 5.3596. Above the 5.8692/5.9068 resistance area sit the January spike high at 6.0760 and also the October peak at 6.2282.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD recovery limited by fears of a recession Yohay Elam 4 years Axel Rudolph, senior analyst at Commerzbank, points out that the USD/TRY cross suddenly rallied to its current March high at 5.8449 before coming off again in the past week. Key Quotes "This week we expect the cross to remain below this level and the 5.8692/5.9068 resistance area, made up of the early October low and the late October high. If so, a slip back towards the 5.5454/40 mid-January highs is expected to take place." "Further support is seen along the 200 day moving average at 5.4692 and also along the 55 day moving average at 5.3596. Above the 5.8692/5.9068 resistance… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
