Thursday, October 15, 2026

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FxWirePro: USD/TRY steadies above 23.6% Fib as Turkey's economic confidence weakens

The Turkish Lira eased, drfting further away from a 1-week peak hit in the prior session following downbeat economic confidence index figures. Turkey's economic confidence index decreased to 91.8 in March from 97.5 in th…

By FxWirePro Team
1 min read
FxWirePro: USD/TRY steadies above 23.6% Fib as Turkey's economic confidence weakens
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  • The Turkish Lira eased, drfting further away from a 1-week peak hit in the prior session following downbeat economic confidence index figures. 
     
  • Turkey's economic confidence index decreased to 91.8 in March from 97.5 in the previous month, its weakest reading since September last year. 
     
  • USD/TRY is trading 0.9 percent higher at 6.4461, having hit a low of 6.3799 the day before, its lowest since March 17. 
     
  • Momentum indicators are turning bullish - RSI strong at 63 and Stochs are biased higher. 
     
  • Immediate resistance is located at 6.4918, any close above could take it above 6.5036.
     
  • On the downside, support is seen at 6.3751 and break below could take it near 6.3658.

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By FxWirePro Team