FxWirePro: USD/TRY drifts towards 3-1/2 week peak, likely to break above 6.8500
Monday, June 15, 2020 12:05 PM UTC
- The Turkish Lira rose, hovering towards a 3-1/2 week trough recorded last week as the greenback surged against a basket of currencies.
- The dollar index rallied as the risk-averse sentiment which dominated overnight trading eased somewhat.
- USD/TRY is trading 0.4 percent higher at 6.8373, having hit a high of 6.8463 on Thursday, its highest since May 19.
- Immediate resistance is located at 6.8554, any close above could take it above 6.8745.
- On the downside, support is seen at 6.7984 (5-DMA) and break below could take it near 6.7826.