Day: October 21, 2020

October 21
2020

Turkish Lira Strengthens to Two-Week High as Markets Bet on Rate Hike

The Turkish lira is strengthening to its best level in two weeks against the US dollar. The lira, which recently crashed to a fresh all-time low, is finding support on widespread expectations that the central bank will raise interest rates to prevent further currency depreciation and to support the economy. On Thursday, central bank officials will hold their October policy meeting. Analysts believe that Ankara will vote to continue tightening […]

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October 21
2020

Bulls Searching for Support at 1.0707 on AUD/NZD?

The Australian versus New Zealand dollar currency pair retraced until the 1.0707 level. Are the bulls able to pull off another rise? Long-term perspective After validating 1.0013 as support, the price printed a rally that extended until the 1.0880 high. From the 1.0880 high, which is part of the false piercing of the 1.0826 firm resistance area, the price passed 1.0707 — also a steady level — only to stop near the next one, […]

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