FxWirePro: USD/TRY breaks below 5-DMA, good to sell on rallies

• The Turkish Lira rose, drifting further away from a 1-1/2 month low as investors continued to digest mixed economic data. 
   
• Turkey's retail sales increased 0.3 percent in August, while the unemployment rate rose to 13.9 percent in July from 13 in June.
   
• USD/TRY is currently trading 0.4 percent down at 5.8944, having hit a high of 5.9384 on Monday, its highest since August 26. 
   
• Momentum indicators are bearish on hourly charts - RSI weak at 42.92, Stochs are biased lower and MACD support downside.
   
• Immediate resistance level is located at 5.9430, any close above could take it above 5.9607.
   
• On the downside, support is seen at 5.8601 (7-EMA), and break below could take it near 5.8313.

Recommendation: Good to sell on rallies around 5.9113, with stop loss of 5.9384, and target price of 5.8601