FxWirePro: USD/TRY retreats from an over 1-1/2 year peak, faces resistance at 6.800
The Turkish Lira rebounded from an over 1-1/2 year trough hit earlier in the session on hopes that the coronavirus pandemic is nearing a peak. The greenback nudged lower across the board as investors awaited the U.S. ini…
The Turkish Lira rebounded from an over 1-1/2 year trough hit earlier in the session on hopes that the coronavirus pandemic is nearing a peak.
The greenback nudged lower across the board as investors awaited the U.S. initial jobless claims data due later in the day, which is expected to come in at 5.25 million after a total of nearly 10 million claims over the past two weeks.
USD/TRY is trading 0.2 percent lower at 6.7511, having hit a high of 6.7923 earlier, its highest since August 2018.
Immediate resistance is located at 6.7961, any close above could take it above 6.8055.
On the downside, support is seen at 6.7184 (5-DMA) and break below could take it near 6.6930 (7-EMA).
