What are the possibilities of the collapse of the lira again as the Turkish Central meeting approaches?

The Turkish lira in the first sessions of the week witnessed a significant increase in its value due to the issuance of unemployment data for the month of November.The Turkish Statistics Authority revealed the stability of rates at 11 levels.2% against the same percentage during October.The lira trading on Monday morning is the lowest level of 13.822 which recorded itself as a very important resistance to the price, while inflation rates rose to 36.08% and with the approaching meeting of the interest committee approaching, as it is expected that the policy of reducing interest rates adopted by Erdogan will continue, which would weaken the lira more and pushing it in an environment of lack of confidence to exceeding the levels of resistance 13.822.Consequently, it is easier for the price to the dollar market against the Turkish lira in this case, reaching the regions of 14.500 and 15.000, and thus a gradual return to the lira to its lower levels in which it was traded earlier in the past year.

Technical view:

The husband traded near the resistance areas 13.822 Since January 6, in parallel with liquidity and fluctuation at the same time.It was circulated in the same area referred to as previously in 7, 8 and 10 (today) of January, this time with a decrease in levels of volatility (see the graph) in reference to the weakness of region 13.822 and therefore the ease of penetration.

The possibilities of penetration of the resistance area 13.822 is very large, and with the approaching meeting of the interest committee approaching, the husband is expected to witness purchasing pressures heading towards 14 regions.500.