When the volatility is over, those who had a real need bought-sold at 7,85.
* If the Armenia-Azerbaijan tension releases a bit, we may see further fall. * DXY is weak. * Although it is on October 22, TCMB proved that they could increase the interest rates so this may fuel the fall. * Turkey announced that the gas find in the Black Sea was more than expected. * Even the presidential elections in the TRNC may contribute to the positive outlook for TRY.
I see 7,78 and 7,70 further resistance points.
But the general trend is of course upwards, this is a temporary position. USDTRY long is always a good investment.