FxWirePro: Turkish lira weakens to 3.76 against U.S. dollar, weakest since February 2
USD/TRY is currently trading at 3.7603 levels. It made intraday high at 3.7662 and low at 3.7319 levels. Intraday bias remains bullish till the time pair holds key support at 3.6703 marks. Key resistances are seen at 3.7…
It made intraday high at 3.7662 and low at 3.7319 levels.
Intraday bias remains bullish till the time pair holds key support at 3.6703 marks.
Key resistances are seen at 3.7729, 3.8038, 3.8618, 3.9106, 3.9438, 3.9618, 3.9755 and 3.9927 levels respectively.
A sustained close below 3.7437 will drag the parity down towards key supports around 3.7221, 3.7026, 3.6848, 3.6712, 3.6580, 3.6367 and 3.6282 marks thereafter.
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 3.7520, stop loss 3.6703 and target of 3.8038.
