FxWirePro: USD/TRY hovers towards 1-month peak, intraday bias bullish
Thursday, June 25, 2020 11:51 AM UTC
- The Turkish Lira declined, hovering towards a 1-month low hit last week as investors preferred to hold dollars amid rising trade tensions and fears of a second wave of coronavirus.
- The greenback against a basket of currencies traded 0.3 percent higher at 97.51, having touched a low of 96.39 on Tuesday, its lowest since June 11.
- USD/TRY is trading 0.05 percent higher at 6.8533, having hit a high of 6.8608 last week, its highest since May 19.
- Immediate resistance is located at 6.8668, any close above could take it above 6.8750.
- On the downside, support is seen at 6.8277 (21-EMA) and break below could take it near 6.8131.