FxWirePro: Turkish lira strengthens against U.S. dollar, bias remains bearish
USD/TRY is currently trading at 3.6151 levels. It made intraday high at 3.6305 and low at 3.6011 levels. Intraday bias remains bearish till the time pair holds key resistance at 3.6924 marks. Key resistances are seen at …
It made intraday high at 3.6305 and low at 3.6011 levels.
Intraday bias remains bearish till the time pair holds key resistance at 3.6924 marks.
Key resistances are seen at 3.6305, 3.6568, 3.6924 and 3.7012 marks respectively.
A sustained close below 3.6233 will drag the parity down towards key supports around 3.5982, 3.5812 and 3.5558 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
We prefer to go short on USD/TRY around 3.6150, stop loss 3.6924 and target of 3.5614.
