USD/TRY Price Analysis: Bullish impulse remains intact beyond $8.7900

• USD/TRY retreats from record top amid overbought RSI conditions.
• Sustained trading beyond the key support lines, bullish MACD favor buyers.

USD/TRY steps back to $8.8715, down 0.05% intraday as European traders brace for Wednesday’s bell.

The Turkish Lira (TRY) pair refreshed the all-time high of $8.8995 during the early Asian session. However, overbought RSI triggered the quote’s pullback moves afterward.

Even so, USD/TRY keeps the last week’s breakout of June month’s top, not to forget staying beyond a two-week-old support line, amid bullish MACD.

Hence, the pair buyers are just taking a breather but not out of the woods, which in turn backs the odds to witness the $8.9000 threshold again on the charts, a break of which will gradually direct the quote towards the $9.000 psychological magnet.

Meanwhile, June’s high near $8.8000, precedes the stated ascending support line, close to $8.7890, to restrict the short-term USD/TRY pullback.

Should the profit-booking moves break the stated support trend line, high marked in August surrounding $8.6820 will be in focus.

USD/TRY: Daily chart

Trend: Bullish