The pair hit session high at 3.7852 after Turkish central bank left interest rates unchanged, as widely expected.
Policymakers decided not to tighten policy despite rising inflation which hit 13-year high last month.
Turkish President Erdogan pushes for easier rates and cheaper credit to boost the economy that raised concerns among investors about the independence of Turkish central bank.
Turkish lira remains under strong pressure and could extend to its all-time low against the US dollar at 3.9414 (posted in January) in coming weeks.
Yesterday’s rally spiked to 3.8073, probing above 09 Oct spike high at 3.7994 and showing scope for further advance on firm break above 3.7994/3.8073 pivots.
Bullish studies received boost from today’s CBRT decision, favoring further fall of Lira.
However, the pair may enter consolidative phase before resuming rally as overbought daily RSI and slow stochastic warn recent rally’s stall.
Deeper pullback should ideally find support at daily Tenkan-sen (3.7163) to keep bullish structure intact.

Res: 3.7852; 3.79994; 3.80733.8109
Sup: 3.7513; 3.7210; 3.7163; 3.7035