FxWirePro: Turkish lira weakens to record low beyond 4.0650 against U.S. dollar, downside limited

• USD/TRY is currently trading at 4.0585 levels.
   
• It made intraday high at 4.0659 and low at 4.0336 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 3.9944 levels. 
   
• Key resistances are seen at 4.0659, 4.0778, 4.0848 and 4.1008 levels respectively.
   
• A sustained close below 4.0487 will drag the parity down towards key supports around 4.0073, 3.9845, 9.9453, 3.9395 and 3.8916 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 4.0450, stop loss at 3.9944 and target of 4.0848.

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