USD/TRY to extend its advance towards 14.95 on a break above 13.95 – SocGen

USD/TRY has recently faced interim hurdle at 13.95 resulting in a pause. A break above here would open up the 14.25 and 14.95 marks, economists at Société Générale report.

Last week’s trough near 12.32 is an important support

“Short-term price action could remain within a range; last week’s trough near 12.32 is likely to be an important support. Signals of reversal are still not visible.”

“A break above the recent high of 13.95 will affirm continuation in the up move towards next projections at 14.25 and 14.95.”