FxWirePro: USD/TRY near 2-week low, likely to break below 21-EMA
The Turkish Lira surged, hovering towards a near 2-week peak hit in the previous session as TUrkey gradually started to ease restrictions imposed to curb the spread of the coronavirus. USD/TRY is trading 0.2 percent down…
The Turkish Lira surged, hovering towards a near 2-week peak hit in the previous session as TUrkey gradually started to ease restrictions imposed to curb the spread of the coronavirus.
USD/TRY is trading 0.2 percent down at 6.98400, having hit a record high of 7.2682 on Thursday.
On Tuesday, the pair declined as low as 6.9722 but found major support at 21-EMA.
Immediate resistance is located at 7.0079, any close above could take it above 7.0354.
On the downside, support is seen at 6.9636 (21-EMA) and break below could take it near 6.9430.
