- The Turkish Lira nudged lower, hovering towards to a 1-1/2 year low hit in the previous session.
- On Monday, the pair rose as high as 6.2569 but closed 1.1 percent lower at 6.1649.
- USD/TRY is trading 0.6 percent up at 6.1996, having hit a high of 6.2569 the day before, its highest since September 2018.
- Momentum indicators are bullish - RSI strong at 71 and MACD supports upside.
- Immediate resistance is located at 6.2284, any close above could take it above 6.2563.
- On the downside, support is seen at 6.1408, and break below could take it near 6.1162.
Recommendation: Good to buy on dips around 6.1678, with stop loss of 6.1408 and target price of 6.2284.
