USD/TRY Outlook: Break of Key Supports Generates Negative Signals for Turkish Lira

The cross rose over 0.5% on Monday and hit 8-day high, on a biggest one-day rally in one month. Sterling, as more risk-sensitive currency than the euro, reacted negatively on strong risk aversion that pushed global equities sharply lower. Today’s rally completed reversal pattern on a daily chart, signaling an end of multi-day congestion, while […]

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