USD/TRY Price Analysis: Sellers keep reins around $13.50

• USD/TRY prints mild gains after four consecutive days of losses.
• Corrective pullback from 200-SMA fails to cross 50-DMA, steady RSI adds strength to bearish bias.
• Fortnight-old horizontal resistance also challenges pair buyers, monthly support line restrict immediate declines.

USD/TRY fades bounce off 200-SMA while taking rounds to $13.50 heading into Monday’s European session.

In doing so, the Turkish lira (TRY) pair remains below 50-SMA amid steady RSI conditions.

Other than the immediate hurdle around $13.55, comprising the 50-SMA, a two-week-old horizontal resistance area around $13.65 will also challenge the USD/TRY bulls.

Should USD/TRY prices rise past $13.65, the pair’s run-up towards the $14.00 threshold can’t be ignored.

Meanwhile, a one-month-old ascending support line near $13.35 restricts short-term declines of the pair ahead of the horizontal support zone from January 20, close to $13.25.

During the quote’s weakness past $13.25, the $13.00 round figure and January’s low near $12.75 should lure the USD/TRY bears.

USD/TRY: Four-hour chart

Trend: Bearish