FxWirePro: Turkish lira weakens to 3.6036 against dollar, hits weakest level in two weeks
Tuesday, May 9, 2017 8:15 AM UTC
- USD/TRY is currently trading at 3.5927 levels.
- It made intraday high at 3.6036 and low at 3.5762 levels.
- Intraday bias remains bullish till the time pair holds key support at 3.55 marks.
- Key resistances are seen at 3.6036, 3.6238, 3.6552, 3.6925, 3.7180, 3.7479 and 3.7620 levels respectively.
- A sustained close below 3.5810 will drag the parity down towards key supports around 3.5558, 3.5351 and 3.5132 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
We prefer to go long on USD/TRY around 3.5880, stop loss 3.5558 and target of 3.6238.