FxWirePro: USD/TRY retreats from recent peaks, good to sell on rally

• The Turkish Lira rose after falling to a 3-day low earlier in the day on Turkey's downbeat consumer confidence data.
   
• Turkey's consumer confidence index fell to 55.8 in September from 58.3 in the previous month, below the forecast of 57.
   
• USD/TRY is currently trading 0.2 percent down at 5.7050, having hit a low of 5.6468 last week, its lowest since August 20. 
   
• RSI is weak at 49.95, MACD supports downside and Stochs are on the verge of a bearish crossover
   
• Immediate resistance is located at 5.7450 (21-DMA), any close above could take it till 5.7650 (September 9 High). 
   
• On the downside, support is seen at 5.6831 (September 6 Low), and break below could take it near 5.6600.

Recommendation: Good to sell on rallies around 5.7115, with stop loss of 5.7287 and target price of 5.6600.