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FxWirePro: USD/TRY consolidates within narrow ranges, investors await fresh catalyst 

  • The Turkish Lira consolidated within narrow ranges as investors awaited the next catalyst for further direction.
     
  • On Sunday, Turkey's health minister announced 32 new deaths from Covid-19, bringing the death toll in the country to 4,340.
     
  • Meanwhile, 1,141 new infections were confirmed in the past 24 hours, registering a total number of infections to 156,827.
     
  • USD/TRY is trading flat at 6.8078, having hit a low of 6.7493 on Tuesday, its lowest since April 13. 
     
  • Immediate resistance is located at 6.8428 (7-EMA), any close above could take it above 6.8618.
     
  • On the downside, support is seen at 6.7808 and break below could take it near 6.7639. 
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