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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 4.5868, 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.

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