FxWirePro: USD/TRY consolidates around 6.27 mark, Turkish’s manufacturing confidence data in focus
USD/TRY is currently trading at 6.2596 levels. It made intraday high at 6.3292 and low at 6.2572 levels. Intraday bias remains neutral for the moment. Key resistances are seen at 6.3775, 6.4050, 6.4630 and 6.4943 marks r…
It made intraday high at 6.3292 and low at 6.2572 levels.
Intraday bias remains neutral for the moment.
Key resistances are seen at 6.3775, 6.4050, 6.4630 and 6.4943 marks respectively.
On the other side, A sustained close below 6.1920 will drag the parity down towards key supports around 6.1251, 6.0170, 6.0093 and 5.9643 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
Turkey will release manufacturing confidence and capacity utilisation data at 1130 GMT.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
