Thursday, October 15, 2026

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FxWirePro: Turkish lira plunges to its lowest since August 2018 as Turkey's coronavirus infection rate rises

The Turkish Lira plunged to an over 1-1/2 year trough as Turkey's Covid-19 infection rate rose fastest in the world. Turkey’s number of coronavirus infections climbed by more than 3,000 a day, reaching 30,217 since the f…

By FxWirePro Team
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FxWirePro: Turkish lira plunges to its lowest since August 2018 as Turkey's coronavirus infection rate rises
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  • The Turkish Lira plunged to an over 1-1/2 year trough as Turkey's Covid-19 infection rate rose fastest in the world. 
     
  • Turkey’s number of coronavirus infections climbed by more than 3,000 a day, reaching 30,217 since the first case was confirmed four weeks ago.
     
  • Erdoğan insists normal work must go on despite Turkey having the fastest rising number of confirmed cases in the world.
     
  • USD/TRY is trading 0.5 percent higher at 6.7828, having hit a high of 6.7919 earlier, its highest since August 2018. 
     
  • On Tuesday, the pair declined as low as 6.6964 but found strong support at 38.2% Fib. 
     
  • Immediate resistance is located at 6.7961, any close above could take it above 6.8055.
     
  • On the downside, support is seen at 6.7225  and break below could take it near 6.6942 (38.2% Fib).
     

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By FxWirePro Team