FxWirePro: USD/TRY near 2-1/2 week trough on Turkey's upbeat consumer confidence, dip till 5.6694 likely

• The Turkish Lira surged, hovering towards a to a 2-1/2 week peak hit in the previous session on upbeat consumer confidence data.
   
• Turkey's consumer confidence increased to 7-month high of 59.9 in November from 57.0 in the previous month
   
• The pair broke below major support at 200-DMA and now its acting as resistance. 
   
• USD/TRY is currently trading 0.1 percent down at 5.6911, having hit a low of 5.6859 on Wednesday, its lowest since November 4. 
   
• Momentum indicators are bearish - RSI weak at 39.82, MACD supports downside and Stochs are biased lower.
   
• Immediate resistance level is located at 5.7222 (5-DMA), any close above could take it above 5.7369 (21-DMA).
   
• On the downside, support is seen at 5.6814, and break below could take it near 5.6600.
   

Recommendation: Good to sell on rallies around 5.6951 with stop loss of 5.7098, and target price of 5.6694.