- The Turkish Lira rallied to a 2-week peak, as the dust settled on last week's downbeat unemployment data.
- The pair broke major resistance at 200-DMA but retraced to trade lower on the day.
- USD/TRY is currently trading 0.2 percent down at 5.7258, having hit a low of 5.7044 earlier, its lowest since November 4.
- Momentum indicators are bearish - RSI weak at 44.93, MACD supports downside and Stochs are biased lower.
- Immediate resistance level is located at 5.7472 (55-EMA), any close above could take it above 5.7525 (21-EMA).
- On the downside, support is seen at 5.6995, and break below could take it near 5.6852.
Recommendation: Good to sell on rallies around 5.7329 with stop loss of 5.7472, and target price of 5.6852.