- The Turkish Lira declined, hovering towards an 8-1/2 month low recorded earlier in the week
- USD/TRY is trading 0.3 percent up at 6.0564, having hit a high of 6.0654 on Wednesday, its highest since May 28.
- Momentum indicators are bullish - RSI strong at 75, MACD supports upside and Stochs are at overbought levels.
- Immediate resistance is located at 6.0660, any close above could take it above 6.0715.
- On the downside, support is seen at 6.0236 (5-DMA) and break below could take it near 6.0150 (7-EMA).
Recommendation: Good to buy on dips around 6.0390, with stop loss of 6.0236 and target price of 6.0660,