FxWirePro: Turkish lira trades marginally lower against U.S. dollar, faces strong resistance at 3.6336
Monday, March 20, 2017 8:14 AM UTC
- 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 3.6336, 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.