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FxWirePro: USD/TRY back above 3.05 mark, likely hit to 3.08 mark

  • USD/TRY is currently trading at 3.0515 levels.
     
  • It made intraday high at 3.0611 and low at 3.0369 levels.
     
  • Intraday bias remains bullish for the moment till the time pair holds key support at 3.0375 levels. 
     
  • Key resistances are seen at 3.0653, 3.0875, and 3.1048 levels respectively.
     
  • A sustained close below 3.0375 will drag the parity down towards key supports around 3.0159, 2.9932, 2.9771, 2.9649, 2.9491, 2.9314, 2.9207, 2.9178, 2.9015 and 2.8847 thereafter.
     
  • 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 3.0500, stop loss at 3.0375 and target of 3.0653/3.0875.

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