USD/TRY turns negative below 3.04

The Turkish lira keeps the bullish fashion on Wednesday, now taking USD/TRY to levels below the 3.04 handle.

USD/TRY lower, coup jitters persist

TRY has initially weakened further today following rumours of a second military coup attempt in Turkey, while purge continues amongst academics and military members amidst swelling effervescence across the country.

The pair has returned to the area above the critical 3.00 limestone following a brief test of the 2.92 neighbourhood on Monday, after the military uprising failed to take control of the country over the past weekend.

USD/TRY key levels

At the moment the pair is retreating 0.15% at 3.0326 facing the immediate support at 2.9345 (55-day sma) followed by 2.8755 (low Jul.15) and finally 2.8375 (post-Brexit low Jun.24). On the upside, a break above 3.0630 (high Jul.19) would pave the way for a test of 3.0754 (all-time high Sep.24 2015).