50-DMA adds to the downside filters, bulls need validation from Novembers high.
Momentum lines retreat hints at bears' struggles to retake controls.
USD/TRY remains sidelined around $13.48, keeping two-week-old momentum between 21-DMA and descending trend line resistance. That said, the quote eases to $13.47 during Wednesdays Asian session.
The Turkish lira (TRY) pairs weakness aims to retest the 21-DMA level of $13.46, a break of which will highlight the 50-DMA, around $13.20, as the next support.
Should USD/TRY bears keep reins past $13.20, the 23.6% Fibonacci retracement of December 2021 moves, around $12.20, cant be ruled out. However, the $13.00 threshold may offer an intermediate halt during the fall.
Alternatively, an upside clearance of the stated resistance line, near $13.72, will aim for the tops marked during late November and December 2021, around $13.95 and $14.15 in that order.
In a case where USD/TRY buyers remain dominant past $14.15, the 61.8% Fibo. level of $15.26 may offer an intermediate halt during the expected rally targeting the $20.00 psychological magnet.
It should be noted that the Momentum line recently retreats from the higher area and the prices are also losing bullish bias, which in turn keeps sellers hopeful.
