FxWirePro: USD/TRY breaks above 7-EMA, jump till 6.8149 likely
Thursday, May 28, 2020 9:53 AM UTC
- The Turkish Lira declined, hovering away from a 6-1/2 week peak hit earlier in the weak, as the greenback steadied against a basket of currencies.
- The dollar gained as tensions between the United States and China over a Hong Kong security law escalated.
- USD/TRY is trading 0.5 percent higher at 6.8015, having hit a low of 6.6970 on Tuesday, its lowest since April 10.
- Immediate resistance is located at 6.8149 (10-DMA), any close above could take it above 6.8295.
- On the downside, support is seen at 6.7493 and break below could take it near 6.7373 (55-EMA).