FxWirePro: USD/TRY hovers towards 4-week peak, jump till 6.8463 likely
Tuesday, June 16, 2020 9:55 AM UTC
- The Turkish Lira declined, hovering towards a 4-week trough recorded in the prior session as the greenback surged against a basket of currencies.
- The dollar index gained after the U.S. Federal Reserve announced it would begin purchasing a diversified range of investment-grade U.S. corporate bonds.
- USD/TRY is trading 0.2 percent higher at 6.8386, having hit a high of 6.8574 on Monday, its highest since May 19.
- Immediate resistance is located at 6.8463, any close above could take it above 6.8765.
- On the downside, support is seen at 6.8026 (7-EMA) and break below could take it near 6.7856.