USDTRY bearish below 4,98 level

USDTRY bearish below 4,98 level

Hello traders,

The TRY has dropped over -3,5% against some majors, over 1800 pips in less than 2 hours, since Turkey´s central bank has hold the interest rate level at 17,75% unexpectedly.

After the huge spike of the USDTRY             , now it is pulling back after being unable to break the 4,98 level for the third time.

Even though the USD is experiencing a huge spike thanks to the positive fundamentals, the USDTRY             remains bearish below 4,98 due to:

RSI divergence.
– 4,98 resistance level .

Enjoy your trading!

Check my previous forecasts: