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FxWirePro: USD/TRY off 1-week low, struggles to sustain gains above 6.500

  • 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.
     
  • Market Data
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