FxWirePro: USD/TRY near 1-week peak, minor support at 55-EMA
The Turkish Lira slumped to a near 1-week low as the dollar rose against a basket of currencies. Investors seem to have ignored upbeat comments from Turkey's treasury and finance minister, Berat Albayrak, stating that Tu…
The Turkish Lira slumped to a near 1-week low as the dollar rose against a basket of currencies.
Investors seem to have ignored upbeat comments from Turkey's treasury and finance minister, Berat Albayrak, stating that Turkey will continue to back investments that will reduce imports and increase exports.
USD/TRY is trading 0.4 percent higher at 6.7836, having hit a low of 6.6834 last week, its lowest since April 10.
On Monday, the pair eased below 55-EMA but retraced to close 0.1 percent higher at 6.7590.
Immediate resistance is located at 6.7944, any close above could take it above 6.8156 (21-EMA).
On the downside, support is seen at 6.7438 (55-EMA) and break below could take it near 6.7290.
