FxWirePro: USD/TRY exhibits range bound movement, bias remains neutral
USD/TRY is currently trading at 3.5305 levels. It made intraday high at 3.5335 and low at 3.5240 levels. Intraday bias remains neutral for the moment. Key resistances are seen at 3.5475, 3.5580, 3.5757, 3.5851, 3.6036, 3…
It made intraday high at 3.5335 and low at 3.5240 levels.
Intraday bias remains neutral for the moment.
Key resistances are seen at 3.5475, 3.5580, 3.5757, 3.5851, 3.6036, 3.6238, 3.6552, 3.6925, 3.7180, 3.7479 and 3.7620 levels respectively.
On the other side, a sustained close below 3.5200 will drag the parity down towards key supports around 3.5126, 3.4854, 3.4766 and 3.4558 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
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.
