USDTRY
Turkish lira extended gains on significantly weaker dollar after Fed delivered their monetary policy in quite dovish tone.
Initial negative signals were generated by multiple rejections at daily cloud top (3.7700 zone) that eventually capped previous bull-leg from 3.5555 (23 Feb low).
Fresh bearish acceleration on Wed/Thu broke and closed below the base of thick daily cloud at 3.6409 (reinforced by Fibo 61.8% of 3.5555/3.7854 upleg) generated strong bearish signal.
Fresh extension lower today probed below next support at 3.6098 (Fibo 76.4%), making more realistic scenario of full retracement of 3.5555/3.7854 upleg.
The pair is on track for strong bearish weekly close that supports negative scenario.
Repeated close below the cloud is needed to re-confirm strong bearish stance.
Session high at 3.6304 marks immediate resistance ahead of more significant cloud base at 3.6409, which is expected to limit extend upticks.
Res: 3.6304; 3.6409; 3.6704; 3.6929
Sup: 3.6098; 3.6003; 3.5808; 3.5555