FxWirePro: Turkish lira weakens to record low beyond 4.1500 against U.S. dollar, stay bullish
USD/TRY is currently trading at 4.1539 levels. It made intraday high at 4.1561 and low at 4.1058 levels. Intraday bias remains bullish till the time pair holds key support at 4.0302 levels. Key resistances are seen at 4.…
It made intraday high at 4.1561 and low at 4.1058 levels.
Intraday bias remains bullish till the time pair holds key support at 4.0302 levels.
Key resistances are seen at 4.1588, 4.1723, 4.1845 and 4.2224 levels respectively.
A sustained close below 4.1094 will drag the parity down towards key supports around 4.0855, 4.0711, 4.0563, 4.0331, 4.0073, 3.9944 and 3.9845 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 4.1350, stop loss at 4.0563 and target of 4.1845.
