• The Turkish Lira slumped to a fresh all-time low as investors fret over depleted reserves
   
• The central bank's net FX reserves have fallen sharply to nearly $25 billion from $40 billion this year due to its funding of state bank interventions to stabilize the lira. 
   
• USD/TRY is trading 1.4 percent up at 7.1585, having hit a high of 7.1672 earlier. 
   
• Immediate resistance is located at 7.1805, any close above could take it above 7.1992.
   
• On the downside, support is seen at 7.0438 and break below could take it near 7.0314 (50% Fib) / 7.0072 (7-EMA).