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3 Apr 2015
USD/TRY testing 2.59 on CPI
FXStreet (Edinburgh) - The Turkish lira is gaining some momentum following the release of the CPI figures, with USD/TRY challenging the 2.59 support.
USD/TRY off highs post-data
The pair is giving away some of the previous gains after consumer prices in the Turkish economy surprised markets to the upside, advancing 1.19% inter-month in March and 7.61% over the last twelve months, vs. forecasts at 0.89% and 7.20%, respectively.
Further data showed Producer Prices following suit, up 1.05% MoM and 3.41% on a yearly basis.
USD/TRY relevant levels
The pair is up 0.19% at 2.5900 and a break above 2.6020 (high Apr.2) would expose 2.6140 (high Apr.1) and then 2.6235 (high Mar.31). On the flip side, next support lines up at 2.5804 (low Apr.2) ahead of 2.5488 (low Mar.25) and finally 2.5390 (low Mar.23).
USD/TRY off highs post-data
The pair is giving away some of the previous gains after consumer prices in the Turkish economy surprised markets to the upside, advancing 1.19% inter-month in March and 7.61% over the last twelve months, vs. forecasts at 0.89% and 7.20%, respectively.
Further data showed Producer Prices following suit, up 1.05% MoM and 3.41% on a yearly basis.
USD/TRY relevant levels
The pair is up 0.19% at 2.5900 and a break above 2.6020 (high Apr.2) would expose 2.6140 (high Apr.1) and then 2.6235 (high Mar.31). On the flip side, next support lines up at 2.5804 (low Apr.2) ahead of 2.5488 (low Mar.25) and finally 2.5390 (low Mar.23).