FxWirePro: Turkish lira falls against U.S. dollar ahead of budget balance data
USD/TRY is currently trading at 2.9844 levels. It made intraday high at 2.9859 and low at 2.9756 levels. Intraday bias remains bullish till the time pair holds key support at 2.9727. Key resistances are seen at 2.9872, 2…
It made intraday high at 2.9859 and low at 2.9756 levels.
Intraday bias remains bullish till the time pair holds key support at 2.9727.
Key resistances are seen at 2.9872, 2.9977, 3.0085, 3.0268, 3.0392, 3.0675, 3.0749, 3.0921, 3.0967 and 3.1048 levels respectively.
A sustained close below 2.9727 will drag the parity down towards key supports around 2.9614, 2.9495, 2.9314, 2.9207, 2.9178, 2.9015 and 2.8847 thereafter.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
Turkey will release budget balance data at 0800 GMT.
We prefer to go long on USD/TRY around 2.98, stop loss 2.9727 and target of 2.9932/2.9977/3.0111/3.0268.
