Bulls take out the last obstacle on the way to record high from 2018


The pair rose to new highest since late Aug 2018 on Monday, confirming positive signal on repeated close above Fibo barrier at 6.6413 (76.4% of 7.1074/5.1323 fall).
The way is now opened towards record high at 7.1074 (13 Aug 2018), with diminished possibilities of corrective action.
Strong demand for safe-haven dollar and higher oil prices also work against Turkish lira.
Bullish daily studies are supportive , however, overbought conditions may slow bulls, underpinned by large weekly bullish candle (the pair was up 4.2% last week).
Rising 5DMA (6.6799) and former high of 23 Mar (6.6082) mark solid supports which are expected to hold dips.

Res: 6.7885; 6.8000; 6.8379; 6.9000
Sup: 6.7113; 6.7000; 6.6799; 6.6082