FxWirePro: Turkish lira falls despite robust manufacturing PMI data

• USD/TRY is currently trading at 3.5330 levels.
   
• It made intraday high at 3.5355 and low at 3.5249 levels.
   
• Intraday bias remains neutral till the time pair holds key support at 3.5261 marks.
   
• Key resistances are seen at 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 3.5261 will drag the parity down towards key supports around 3.5183, 3.5018 and 3.4854 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.


• Turkey May manufacturing PMI increase to 53.5 vs previous 51.7.

We prefer to go short on USD/TRY only below 3.5261, stop loss 3.5524 and target of 3.5183/3.5018.