FxWirePro: Turkish lira rises gradually against U.S. dollar, faces strong support at 4.4470 mark
USD/TRY is currently trading at 4.5642 levels. It made intraday high at 4.5992 and low at 4.5554 levels. Intraday bias remains bearish for the moment. Key resistances are seen at 4.6282, 4.6347, 4.6484 and 4.6888 marks r…
It made intraday high at 4.5992 and low at 4.5554 levels.
Intraday bias remains bearish for the moment.
Key resistances are seen at 4.6282, 4.6347, 4.6484 and 4.6888 marks respectively.
On the other side, A sustained close below 4.5818 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.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
