USD/TRY surge reaches above 15.00

Source: Dukascopy Bank SA


Since the review of the surge of the USD/TRY done on November 17, the rate has surged additional 43.10% or 45,910 base points. Most recently, the pair broke the resistance of the 15.00 level

In regards to the near term future, a continuation of the surge could find resistance in round exchange rate levels. Note how resistance was provided by the 13.00 and 14.00 levels. Due to that reason, the 16.00 and 17.00 levels might act as resistance.

However, a retracement down would most likely also react to round levels. For example, the 12.00 mark provided support in late December, when the pair bounced off the 13.00 level.
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