FxWirePro: Turkish lira continues to fall against U.S. dollar, good to buy on dips
USD/TRY is currently trading at 4.4487 levels. It made intraday high at 4.4618 and low at 4.4114 levels. Intraday bias remains bullish till the time pair holds key support at 4.3650 levels. Key resistances are seen at 4.…
It made intraday high at 4.4618 and low at 4.4114 levels.
Intraday bias remains bullish till the time pair holds key support at 4.3650 levels.
Key resistances are seen at 4.4620, 4.4829, 4.5006, 4.5254, 4.5515 and 4.5619 levels respectively.
On the other side, A sustained close below 4.4120 will drag the parity down towards key supports around 4.3920, 4.3650, 4.3476, 4.3020, 4.2553, 4.2201 and 4.2105 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 go long on USD/TRY around 4.4400, stop loss at 4.4100 and target of 4.5006/4.5254.
