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FxWirePro: Turkish lira falls 0.8 pct on the day, hits lowest since September 2015

  • USD/TRY is currently trading at 3.0533 levels.
     
  • It made intraday high at 3.0612 and low at 3.0308 levels.
     
  • Short term outlook remains bullish till the time pair holds key support level at 2.9962 levels.
     
  • In addition, a daily close below key support level will drag the parity down towards 2.9598, 2.9189, 2.9015 and 2.8847 thereafter.
     
  • On the other side, key resistance levels are seen at 3.0744, 3.0928 and 3.1048 levels respectively.

Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.

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