FxWirePro: USD/TRY retreats from 1-week peak as Turkey's unemployment rate declines
The Turkish Lira bounced back from a 1-week trough hit in the prior session following upbeat unemployment data. Turkey's unemployment rate declined to 13.2 percent in March from 14.1 percent a year earlier, as the number…
The Turkish Lira bounced back from a 1-week trough hit in the prior session following upbeat unemployment data.
Turkey's unemployment rate declined to 13.2 percent in March from 14.1 percent a year earlier, as the number of unemployed fell by 573 thousand to 3.971 million, the lowest since October of 2018.
USD/TRY is trading 0.1 percent lower at 6.7830, having hit a high of 6.8043 the day before, its highest since June 2.
On Tuesday, the pair rose to a 1-week peak but found strong resistance at 21-EMA to close 0.15 percent up at 6.7929.
Immediate resistance is located at 6.8108 (21-EMA), any close above could take it above 6.8235.
On the downside, support is seen at 6.7678 and break below could take it near 6.7522.
