FxWirePro: Turkish lira weakens to more than 1 percent against U.S. dollar, bias remains bullish
USD/TRY is currently trading at 4.5284 levels. It made intraday high at 4.54030 and low at 4.4694 levels. Intraday bias remains bullish till the time pair holds key support at 4.4558 mark. Key resistances are seen at 4.5…
It made intraday high at 4.54030 and low at 4.4694 levels.
Intraday bias remains bullish till the time pair holds key support at 4.4558 mark.
Key resistances are seen at 4.5868, 4.6282, 4.6347, 4.6484 and 4.6888 marks respectively.
On the other side, A sustained close below 4.48 will drag the parity down towards key supports around 4.4617, 4.4470, 4.4218, 4.3836 and 4.3595 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 only above 4.5403, stop loss at 4.5000 and target of 4.5868.
