The USD/TRY pair is oscillating around the monthly resistance line, near $13.53 during Monday’s European session.
Dollar Lira Technical Analysis
However, the successful trading of the Turkish lira (TRY) above the 100-day moving average is joining the gradually rising RSI line to indicate the buyers are slow towards victory.
However, a clear bullish breakout at $13.60 becomes necessary for them to challenge the January high around $13.94.
If USD/TRY rises beyond $13.94, focus will be on $14.00 high and Dec 21st high at $14.14.
Alternatively, pullbacks may initially aim for the 100-SMA at $13.49, and a break of it would direct the price towards short-term horizontal support near $13.25.
During the dollar-TL pair weakening after $13.25, the January 12 low near $13.16 might provide an intermediate stop for the southerner targeting the $13.00 threshold.