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    USD/TRY: technical analysis on 15.10.2015

    On the daily chart, the price is obstructing the 61.8% Fibonacci retracement that coincides with the lower MA of Bollinger Bands. The price remains below its medium-term average, but the EMA130 is still far off and directed upwards. The RSI confirms that the longer trend is still not broken as it failed its support at 31 last week. It is now approaching the level to retest it. The RSI starts diverging with the Composite thus an upward correction soon could be approaching.

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