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- USD/TRY is currently trading at 4.7204 levels.
- It made intraday high at 4.7224 and low at 4.6658 levels.
- Intraday bias remains bullish till the time pair holds key support at 4.6063 marks.
- Key resistances are seen at 4.7222, 4.7454, 4.7751 and 4.8036 marks respectively.
- On the other side, A sustained close below 4.6682 will drag the parity down towards key supports around 4.6464, 4.6063, 4.5539, 4.5294, 4.5093, 4.4617 and 4.4470 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
We prefer to take long position on USD/TRY around 4.7180, stop loss at 4.6658 and target of 4.7751.
