FxWirePro: Turkish lira remains unchanged despite robust manufacturing PMI data
USD/TRY is currently trading at 4.6226 levels. It made intraday high at 4.6360 and low at 4.5846 levels. Intraday bias remains bullish till the time pair holds key support at 4.5540 marks. Key resistances are seen at 4.6…
It made intraday high at 4.6360 and low at 4.5846 levels.
Intraday bias remains bullish till the time pair holds key support at 4.5540 marks.
Key resistances are seen at 4.6360, 4.6484, 4.6563 and 4.6888 marks respectively.
On the other side, A sustained close below 4.5848 will drag the parity down towards key supports around 4.5500, 4.5294, 4.5093, 4.4617 and 4.4470 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
Turkey June 2018 manufacturing PMI increase to 46.8 (previous 46.4).
We prefer to take long position on USD/TRY around 4.6200, stop loss at 4.5848 and target of 4.6888.
