- The Turkish Lira slumped to a 1-week low, as investors await Central Bank of Turkey's interest rate decision due next week.
- USD/TRY is trading 0.3 percent up at 5.7670, having hit a high of 5.7685 on Thursday, its highest since November 28.
- Momentum indicators are bullish - RSI strong at 55.47, MACD supports upside and Stochs are biased higher.
- Immediate resistance is located at 5.7749, any close above could take it above 5.7812.
- On the downside, support is seen at 5.7429, and break below could take it near 5.7339 (200-DMA).
Recommendation: Good to buy on dips around 5.7506, with stop loss of 5.7429 and target price of 5.7749.