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FxWirePro: Turkish lira hits fresh record low at 3.8938 against U.S. dollar, bias remains bullish

USD/TRY is currently trading at 3.8570 levels. It made intraday high at 3.8938 and low at 3.7807 levels. Intraday bias remains bullish for the moment. Key resistances are seen at 3.8938, 3.9076, 3.9226 and 3.9438 levels …

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FxWirePro: Turkish lira hits fresh record low at 3.8938 against U.S. dollar, bias remains bullish
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  • USD/TRY is currently trading at 3.8570 levels.

  • It made intraday high at 3.8938 and low at 3.7807 levels.
     
  • Intraday bias remains bullish for the moment. 
     
  • Key resistances are seen at 3.8938, 3.9076, 3.9226 and 3.9438 levels respectively.
     
  • A sustained close below 3.7812 will drag the parity down towards key supports around 3.8221, 3.8019, 3.7875, 3.7807 and 3.7661 thereafter.
     
  • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.

We prefer to go long on USD/TRY around 3.8490, stop loss 3.7812 and target of 3.8938/3.9076.

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