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USD/TRY: New all-time highs, potential to reach the 10.00 mark – Commerzbank

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Turkish lira trades in new all-time lows. According to Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, the USD/TRY pair may additionally upward jostle all the way to the 10.00 level.

USD/TRY trades in new all-time highs above 9.00
“USD/TRY’s develop has reached our every day 0.1 x three vertical Point & Figure upside goal at 9.1000 and so some distance risen to 9.2959. Further up lies the 10.0000 mark.”

“We will continue to be straight away bullish whilst the pass stays above the two month assist line at 9.0330 beneath which the early October low can be noticed at 8.8037. While final above the latter level, universal upside stress need to preserve the higher hand.”

“Key aid stays to be considered between the June-to-September lows at 8.2925/2605.”

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