FxWirePro: USD/TRY exhibits range bound movement, bias remains neutral
USD/TRY is currently trading at 2.9756 levels. It made intraday high at 2.9815 and low at 2.9710 levels. Intraday bias remains neutral for the moment. Key resistances are seen at 2.9856, 2.9977, 3.0085, 3.0268, 3.0392, 3…
It made intraday high at 2.9815 and low at 2.9710 levels.
Intraday bias remains neutral for the moment.
Key resistances are seen at 2.9856, 2.9977, 3.0085, 3.0268, 3.0392, 3.0675, 3.0749, 3.0921, 3.0967 and 3.1048 levels respectively.
A sustained close below 2.9647 will drag the parity down towards key supports around 2.9614, 2.9495, 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. Current downside movement is short term trend correction only.
We prefer to go long on USD/TRY only above 2.9815, stop loss 2.9647 and target of 2.9885/2.9977.
