FxWirePro: USD/TRY hovers towards 1-month peak, outlook remains bullish
Friday, June 19, 2020 10:58 AM UTC
- The Turkish Lira declined, hovering towards a 1-month low hit in the prior session as the greenback trimmed early session losses against a basket of currencies.
- The dollar index surged as a rise in infections renewed fears of a delay in economic recovery
- USD/TRY is trading 0.05 percent higher at 6.8562, having hit a high of 6.8608 on Thursday, 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 6.8332 (5-DMA) and break below could take it near 6.8265 (7-EMA).