FxWirePro: Turkish lira strengthens against U.S. dollar, good to sell on rallies

• USD/TRY is currently trading at 3.4920 levels.
   
• It made intraday high at 3.5059 and low at 3.4910 levels.
   
• Intraday bias remains bearish till the time pair holds key resistance at 3.5149 marks.
   
• Key resistances are seen at 3.5149, 3.5321, 3.5441, 3.5525, 3.5757, 3.5851, 3.6036, 3.6238, 3.6552, 3.6925, 3.7180, 3.7479 and 3.7620 levels respectively.
   
• On the other side, a sustained close below 3.50 will drag the parity down towards key supports around 3.4854, 3.4766 and 3.4558 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   
• Turkey June capacity utilisation increase to 79.0 % vs previous 78.8 %.
   
• Turkey June manufacturing confidence increase to 112.4 vs previous 109.2.

We prefer to go short on USD/TRY around 3.5000, stop loss 3.5149 and target of 3.4766.

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