USD/TRY: 21-DMA defends buyers above $13.00 as Turkey inflates electricity, gas prices By anilpanchal7 USDTRY RiskAppetite Inflation Coronavirus Currencies
Looking forward, Turkish CPI and final readings of the US Markit Manufacturing PMI for December may offer intermediate clues to the USD/TRY prices.USD/TRY’s latest pullback fails to comply with the receding bearish bias of the MACD and the quote’s sustained trading beyond the 21-DMA, which in turn suggests the quote’s further advances.retracement level of November-December run-up, near $13.95, can challenge short-term USD/TRY upside. Following that, the mid-December peak near $14.
On the contrary, a downside break of the 21-DMA level of $13.35 will direct the sellers towards the 61.8% Fibo. level near $12.85, a break of which will direct USD/TRY prices towards the 10-DMA support of $12.29.USD/TRY: Daily chartInformation on these pages contains forward-looking statements that involve risks and uncertainties.
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