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USD/TRY takes out 200dma, but Must Close Below to Unlock More Downside

TURKEY
  • USD/TRY on a bit of a tear lower after moving through the 200dma
  • Now below 30Dec low at 7.3108 approaching 7.30
  • SUP 1: 7.2077 Low Aug 21
  • SUP 2: 7.1345 76.4% retracement of the Jun - Nov rally
  • Daily close below 7.30 would likely confirm the next leg lower
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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