FxWirePro: USD/TRY consolidates near 5-1/2 month peak, major support at 7-EMA

• The Turkish Lira consolidated within narrow ranges after falling to a fresh 5-1/2 month low earlier in the session.
   
• USD/TRY is trading flat at 5.9805, having hit a high of 5.9879 earlier, its highest since August 26. 
   
• Momentum indicators are bullish - RSI strong at 66.90, MACD supports upside and Stochs are at overbought levels.
   
• Immediate resistance is located at 5.9920, any close above could take it above 6.0030.
   
• On the downside, support is seen at 5.9720 (5-DMA) and break below could take it near 5.9643 (7-EMA).

Recommendation: Good to buy on dips around 5.9800, with stop loss of 5.9720 and target price of 5.9920.