- The Turkish Lira surged, extending gains for the third straight session.
- The pair breached major resistance at 21-EMA but fails to sustain above it.
- USD/TRY is currently trading 0.2 percent down at 5.6832, having hit a low of 5.6732 on Tuesday, its lowest since September 19.
- RSI is weak at 46.89, MACD supports downside and Stochs are biased lower.
- Immediate resistance is located at 5.7355 (21-DMA), any close above could take it till 5.7650 (September 9 High).
- On the downside, support is seen at 5.6600 (September 18 Low), and break below could take it near 5.6468.
Recommendation: Good to sell on rallies around 5.6968, with stop loss of 5.7105 and target price of 5.6600.
