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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 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.
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