The US Dollar has been depreciating against the Turkish Lira since the end of August. This movement has been bounded in a falling wedge.

Technical indicators for the 1W time frame suggest that a breakout north occurs in the nearest future and the currency pair surges towards the Fibonacci 23.60% retracement at 5.7597.

However, this advance might not be immediate as the exchange rate is being pressured by the 200-hour SMA at 5.4656 and the pair could decline to the support cluster formed by the weekly S2 and the monthly S1 near 5.2800.
FibonacciPivot PointsTRYUSDUSDTRYWedge

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