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FxWirePro: USD/TRY consolidates near 1-1/2 year peak as Turkey struggle with virus impact

  • The Turkish Lira declined, hovering towards an over 1-1/2 year low hit in the previous session, as authorities struggled to contain the financial and economic fallout of the coronavirus.
     
  • Health Minister Fahrettin Koca late on Monday stated that infections from the coronavirus rose by 4,093 cases in a day to 61,049, while deaths increased by 19 to 1,296. 
     
  • USD/TRY is trading 0.3 percent higher at 6.7869, having hit a high of 6.7960 on Monday, its highest since August 2018.
     
  • Immediate resistance is located at 6.7961, any close above could take it above 6.8055.
     
  • On the downside, support is seen at 6.7528 and break below could take it near 6.7268.
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