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FxWirePro: Turkish lira erases previous loss against USD, bias turns to bearish

Monday, July 25, 2016 8:27 AM UTC

USD/TRY is currently trading at 3.0336 levels.
It made intraday high at 3.0675 and low at 3.0273 levels.
Intraday bias remains slightly bearish till the time pair holds key resistance at 3.0800 marks.
A sustain close below 3.03 mark will drag the parity down towards key supports around 3.0218, 3.0122, 2.9598, 2.9189, 2.9015 and 2.8847 thereafter.
On the other side, key resistance levels are seen at 3.0749, 3.0921, 3.0967 and 3.1048 levels respectively.

We prefer to take short position in USD/TRY around 3.05, stop loss 3.0749 and target 3.0122/2.9668.

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FxWirePro: Turkish lira erases previous loss against USD, bias turns to bearish

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