FxWirePro: USD/TRY off 1-week low, struggles to sustain gains above 6.500
Thursday, March 26, 2020 11:58 AM UTC
- The Turkish Lira eased, hovering away from a 1-week peak hit in the prior session.
- On Wednesday, the pair tumbled to its lowest since March 17 but retraced to close 0.1 percent up at 6.4153.
- USD/TRY is trading 0.6 percent higher at 6.4529, having hit a low of 6.3810 the day before, its lowest since March 17.
- Momentum indicators are turning bullish - RSI strong at 64, MACD supports upside and Stochs indicate bullish crossover.
- Immediate resistance is located at 6.5043, any close above could take it above 6.5297.
- On the downside, support is seen at 6.3874 (38.2% Fib) and break below could take it near 6.3679.