FxWirePro: Turkish lira weakens to record low of 4.92 against U. S. dollar, high volatility likely
USD/TRY is currently trading at 4.8161 levels. It made intraday high at 4.9268 and low at 4.6621 levels. Intraday bias remains bullish for the moment. Key resistances are seen at 4.9348, 4.9598, 4.9749, 4.9921 and 5.0080…
It made intraday high at 4.9268 and low at 4.6621 levels.
Intraday bias remains bullish for the moment.
Key resistances are seen at 4.9348, 4.9598, 4.9749, 4.9921 and 5.0080 marks respectively.
On the other side, A sustained close below 4.6635 will drag the parity down towards key supports around 4.5420, 4.5238, 4.5001, 4.4875, 4.4427 and 4.40 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 4.80, stop loss at 4.5726 and target of 5.0080.
