Market Update – 11/18 – USDTRY (gasp!) Channel
The TRY crisis has led to USDTRY near (or at…I’ll explain) the top of a decade + channel. The channel top when using intraday highs/lows is about 11.61. When using daily closing prices, USDTRY is at the line now. An interesting juncture and one that wouldn’t be surprising as resistance. That’s as bold as I’ll get regarding USDTRY comments right now.