USD/TRY: Eyeing support at 6.6219/6.6089 – Commerzbank

USD/TRY formed a top at its current May all-time high at 7.2692 and now eyes support at 6.6219/6.6089, per Commerzbank.

Key quotes

“USD/TRY’s advance has taken it to its current May high at 7.2692, a new all-time high, before swiftly coming off again towards the 6.8000 region. Below it minor support can be spotted at the 6.7943 April 8 high and along the 55-day moving average at 6.7142.” 

“Minor resistance sits at the 7.0006 April high and more significant resistance at the 7.2692 recent all-time high.”