FxWirePro: USD/TRY hovers towards 1-month peak, intraday bias bullish
The Turkish Lira declined, hovering towards a 1-month low hit last week as investors preferred to hold dollars amid rising trade tensions and fears of a second wave of coronavirus. The greenback against a basket of curre…
The Turkish Lira declined, hovering towards a 1-month low hit last week as investors preferred to hold dollars amid rising trade tensions and fears of a second wave of coronavirus.
The greenback against a basket of currencies traded 0.3 percent higher at 97.51, having touched a low of 96.39 on Tuesday, its lowest since June 11.
USD/TRY is trading 0.05 percent higher at 6.8533, having hit a high of 6.8608 last week, its highest since May 19.
Immediate resistance is located at 6.8668, any close above could take it above 6.8750.
On the downside, support is seen at 6.8277 (21-EMA) and break below could take it near 6.8131.
