USD/TRY to advance nicely towards the 9.35 mark – SocGen

USD/TRY trades sideways at 8.87 inside Friday’s range. Economists at Société Générale expect the pair to find good support at 8.68 and grin higher towards 9.15 and 9.35.

Critical support at 8.26

“After reaching 8.95, an initial pullback is under way, however, August's peak of 8.68 should cushion.”

“USD/TRY is expected to head higher gradually towards projections of 9.15 with next objective at the target for the pattern near 9.35.”

“Lower limit of the pattern near 8.26 should now be a crucial support.”