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Add as a preferred source on Google FxWirePro: USD/TRY consolidates near 1-1/2 year peak, likely to test 7.000 The Turkish Lira nudged up slightly but consolidated below a 1-1/2 year low hit last week. On Thursday, the pair retreated from recent highs but found strong support at 7-EMA. USD/TRY is trading 0.3 percent down at 6.973…
By FxWirePro Team Apr 27, 2020, 9:58 AM UTC
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The Turkish Lira nudged up slightly but consolidated below a 1-1/2 year low hit last week.
On Thursday, the pair retreated from recent highs but found strong support at 7-EMA.
USD/TRY is trading 0.3 percent down at 6.9734, having hit a high of 7.0079 on Wednesday, its highest since August 2018.
Immediate resistance is located at 7.0086, any close above could take it above 7.0142.
On the downside, support is seen at 6.9488 and break below could take it near 6.9279 (7-EMA).
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