New sanctions to Turkey from USA

US Treasury Secretary said that the USA could impose more sanctions to Turkey, if they not make Brunson to be free.

On the other side, Qatar offered support for about 15 Billion USD for the Turkish economy. Germany stated that it wants to avoid an economic melt-down of Turkey, while France seems to be willing to improve trade relationships. If more negative headlines comes, we could see the TRY weakening once again.

USD/TRY dropped breaking the 5.9500 support line and stabilized below it. We could see the pair continuing to trade in a sideways manner. We could see it breaking the 5.9500 resistance line and aim for the 6.2800 resistance hurdle. On the other side, we could see the pair breaking the 5.6700 support line and aim for the 5.4300 support barrier.