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FxWirePro: USD/TRY hovers towards 1-1/2 month peak, likely to break above 6.8700

  • The Turkish Lira declined, halting a 2-day winning streak as the greenback rose against a basket of currencies. 
     
  • The dollar nudged higher after Federal Reserve officials expressed concern that rising coronavirus cases could harm economic growth just as stimulus measures begin to expire.
     
  • USD/TRY is trading 0.2 percent up at 6.8644, having hit a high of 6.8767 on Friday, its highest since May 19.
     
  • Immediate resistance is located at 6.8695, any close above could take it above 6.8824.
     
  • On the downside, support is seen at 6.8574 and break below could take it near 6.8475.
  • Market Data
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