Technical Outlook

Bulls are taking a breather under new two-week high

Strong three-day rally (the dollar advanced 1.3% against lira) is pausing under new two-week high. Overbought daily stochastic and rising bearish momentum signal that fresh bulls are entering consolidative/corrective phase. Broken 20DMA offers initial support at 5.9188, but deeper pullback cannot be ruled out. Next strong level lays at 5.9030…
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