Harsh Movements Are Seen / USDTRY / 21/01/2015 08:14:54Turkish Central Bank (TCMB) cut the policy interest rate by 50 base points from 8,25 percent to 7,75 percent. There were no changes in overnight lending rate and overnight borrowing rate also. With downward movements after the decision, we see that 50 base points interest cut was already prices. But, at following hours...
statements from political authorities made the pair go upwards, and within this, the pair tested 2,3580 level.
Today; USA building permits and housing starts will be followed.
Technically; 2,3420 support level is important for pair. If the pair continues to be above there, then 2,3580 resistance might be tested again. If the pair breaks 2,3420 support downwards, then 2,3320 support would be aimed.