FxWirePro: Turkish lira gains against USD ahead of CPI data
USD/TRY is currently trading at 2.9444 levels. It made intraday high at 2.9509 and low at 2.9429 levels. Intraday bias remains bearish till the time pair holds key resistance at 2.9710 marks. A sustained close below 2.94…
It made intraday high at 2.9509 and low at 2.9429 levels.
Intraday bias remains bearish till the time pair holds key resistance at 2.9710 marks.
A sustained close below 2.9420 will drag the parity down towards key supports around 2.9326, 2.9238, 2.9178, 2.9015 and 2.8847 thereafter.
On the other side, key resistances are seen at 2.9661, 2.9710, 2.9867, 2.9977, 3.0085, 3.0392, 3.0675, 3.0749, 3.0921, 3.0967 and 3.1048 levels respectively.
Turkey will release CPI data at 0700 GMT.
We prefer to take short position in USD/TRY only below 2.9420, stop loss 2.9710 and target 2.9326/2.9238.
