FxWirePro: Turkish lira trades marginally lower against U.S. dollar, faces strong resistance at 3.6336
USD/TRY is currently trading at 3.6296 levels. It made intraday high at 3.6359 and low at 3.6202 levels. Intraday bias remains bullish till the time pair holds key support at 3.6000 marks. Key resistances are seen at 3.6…
It made intraday high at 3.6359 and low at 3.6202 levels.
Intraday bias remains bullish till the time pair holds key support at 3.6000 marks.
Key resistances are seen at 3.6336, 3.6441, 3.6568, 3.6924 and 3.7012 marks respectively.
A sustained close below 3.6336 will drag the parity down towards key supports around 3.6005, 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.
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.
