EUR/TRY: Rebounds should be of limited amplitude - Natixis

Rebounds in EUR/TRY cross cannot be ruled out over the next few trading sessions but, given the weak daily volatility, they should be of limited amplitude, according to the research team at Natixis.

Key Quotes

“A recovery back above the resistance around 4-4.0070 (upper band of daily Bollinger) is unlikely. Keep an eye rather on the support at 3.9020 (lower band of daily Bollinger).”

“A break below this last level would release significant downside, opening the way for a more pronounced decline of the EUR/TRY over the next few trading sessions towards the support around 3.8130-3.8250 (lower band of weekly Bollinger).”

“Resistance levels are located at 3.9560, around 4-4.0070, at 4.0640 and at 4.1375.”