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Alert - 10:55 (CET) - UsdTry
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The UsdTry is trading at 1.5283, ranging from 1.5037 and 1.5320. The current price is over yesterday's close at 1.4950. In the hourly graphics, the 20- and 50-day Exponential Mobile Averages (EMA) are over the 200-day EMA.
As the resistances at 1.5000 (key) was broken, the traders are watching the next at 1.5300 and 1.5700. On the other hand, the traders keep watching, just in case, the supports at 1.3785 (October 15th low), 1.3167 (October 3rd low), and 1.2627 (October 1st low).
Last week, the pair fluctuated between 1.3668 and 1.5386. As the Bush administration is planning a second fiscal stimulus and the fact that Turkey has a financial sector with strong credit restrictions allowed the greenback to climb 20.36% this month against the Lira.
Checking the hourly graphics again, the current price is over the 61.80% (1.5017) and under the 100.00% (1.7207) Fibonacci retracement lines. The volatility per hour could reach 100 pips and the 60-minute Relative Strenght Index (RSI) is at 61 points, after being very overbought.
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