FxWirePro: Turkish lira erases previous gain against U.S. dollar, bias remains slightly bullish
USD/TRY is currently trading at 3.5430 levels. It made intraday high at 3.5441 and low at 3.5254 levels. Intraday bias remains bullish for the moment. Key resistances are seen at 3.5441, 3.5525, 3.5757, 3.5851, 3.6036, 3…
It made intraday high at 3.5441 and low at 3.5254 levels.
Intraday bias remains bullish for the moment.
Key resistances are seen at 3.5441, 3.5525, 3.5757, 3.5851, 3.6036, 3.6238, 3.6552, 3.6925, 3.7180, 3.7479 and 3.7620 levels respectively.
On the other side, a sustained close below 3.5344 will drag the parity down towards key supports around 3.5137, 3.4899, 3.4766 and 3.4558 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
We prefer to go long on USD/TRY only above 3.5441, stop loss 3.5200 and target of 3.5525/3.5757.
