USD/TRY: Scope to surge as high as 10.15 – SocGen

USD/TRY has reached 9.35 achieving the target for recent rectangle breakout. Economists at Société Générale expect the pair to extend its advance towards 9.44, then 10.15.

Downside limited

“Signals of pullback are still not visible; 8.80 should now be an important support.” 

“Next projections are located at 9.44 and 10.15.”