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USD/TRY burst higher to around the 78.6% Fibonacci retracement at 8.2200 before coming off again. A rise above 8.2822 would target the November peak at 8.5814, according to Axel Rudolph, Senior FICC Technical Analyst at Commerzbank.  

See:  USD/TRY to reach new all-time highs in the days ahead – TDS

Key quotes

“While no rise above the 8.2822 current March high is seen, volatile range trading between this high and the March 8 high at 7.7881 is likely to ensue. The November low and January high at 7.5439/7.5195 may also be revisited. Further down lie the January low at 7.2417 and the current March low at 7.1916 as well as the February trough at 6.8925.”  

“A rise above 8.2822 would target the November peak at 8.5814.”