FX.co ★ Elliott wave analysis of USD/TRY for September 24, 2021

USD/TRY is once again testing important resistance at 8.7992 and we expect this resistance to be broken soon for a continuation higher towards 10.4147 and maybe even a run away rally much higher if a hyper inflationary situation happens in Turkey.

Support is currently seen 8.5300 and then near 8.2745 and only a break below the later will ease the pressure on TRY.