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Add as a preferred source on Google FxWirePro: USD/TRY off 1-week low, struggles to sustain gains above 6.500 The Turkish Lira eased, hovering away from a 1-week peak hit in the prior session. On Wednesday, the pair tumbled to its lowest since March 17 but retraced to close 0.1 percent up at 6.4153. USD/TRY is trading 0.6 percen…
By FxWirePro Team Mar 26, 2020, 11:58 AM UTC
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The Turkish Lira eased, hovering away from a 1-week peak hit in the prior session.
On Wednesday, the pair tumbled to its lowest since March 17 but retraced to close 0.1 percent up at 6.4153.
USD/TRY is trading 0.6 percent higher at 6.4529, having hit a low of 6.3810 the day before, its lowest since March 17.
Momentum indicators are turning bullish - RSI strong at 64, MACD supports upside and Stochs indicate bullish crossover.
Immediate resistance is located at 6.5043, any close above could take it above 6.5297.
On the downside, support is seen at 6.3874 (38.2% Fib) and break below could take it near 6.3679.
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