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FxWirePro: Turkish lira recovers slightly against U.S. dollar from record low at 3.3276, bias remains neutral

USD/TRY is currently trading at 3.3134 levels. It made intraday high at 3.3254 and low at 3.3089 levels. Intraday bias remains neutral till the time pair holds key resistance at 3.3276 levels. Key resistances are seen 3.…

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FxWirePro: Turkish lira recovers slightly against U.S. dollar from record low at 3.3276, bias remains neutral
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  • USD/TRY is currently trading at 3.3134 levels.
     
  • It made intraday high at 3.3254 and low at 3.3089 levels.
     
  • Intraday bias remains neutral till the time pair holds key resistance at 3.3276 levels. 
     
  • Key resistances are seen 3.3276, 3.3378 and 3.3415 marks.
     
  • Alternatively, sustained close below 3.31 will drag the parity down towards key supports around 3.2811, 3.2490, 3.2067 and 3.1635 marks respectively.
     
  • 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 only above 3.3207, stop loss at 3.2782 and target of 3.3415.

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