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TECHS: Clears Support

TURKEY
USDTRY yesterday cleared support at 7.7440, Nov 30 low, confirming a breakout of the recent range.
  • The move lower paves the way for weakness towards key support at 7.5151, Nov 19 low.
  • Initial resistance is at 7.8317/32, the 50- and 20-day EMA levels respectively.
  • Support levels to watch:
    • SUP 1: 7.6331 Low Nov 23
    • SUP 2: 7.5151 Low Nov 19 and the bear trigger
    • SUP 3: 7.4106 61.8% retracement of the Jun - Nov rally

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