FxWirePro: Turkish lira near 2-week peak as government lifts travel restrictions for more cities
The Turkish Lira rallied to near 2-week peak, as the greenback eased against a basket of currencies. The Turkish currency was also supported by Turkish President Recep Tayyip Erdogan announcement that COVID-19 travel res…
The Turkish Lira rallied to near 2-week peak, as the greenback eased against a basket of currencies.
The Turkish currency was also supported by Turkish President Recep Tayyip Erdogan announcement that COVID-19 travel restrictions were lifted in nine more cities, as part of the normalization process as the country's number of fatalities and cases continued to decline.
USD/TRY is trading 0.6 percent down at 7.0299, having hit a high of 7.2682 on Thursday.
The pair dropped as low as 7.0005 but faces major support at 21-EMA.
Immediate resistance is located at 7.0967, any close above could take it above 7.1054.
On the downside, support is seen at 6.9786 and break below could take it near 6.9604 (21-EMA).
