- The Turkish Lira surged, hovering towards to a 3-week peak hit in the previous session.
- The pair broke below major support 21-EMA and continues to drift lower.
- USD/TRY is trading 0.2 percent down at 6.0871, having hit a high of 6.2569 on Monday, its highest since September 2018.
- Momentum indicators are bearish on hourly charts - RSI weak at 35 and MACD supports downside.
- Immediate resistance is located at 6.1582, any close above could take it above 6.1722 (5-DMA).
- On the downside, support is seen at 6.0514 and break below could take it near 6.0338.
Recommendation: Good to sell on rallies around 6.0978, with stop loss of 6.1073 and target price of 6.0514.
