FxWirePro: USD/TRY exhibits range bound movement; stay bearish
USD/TRY is currently trading at 3.0630 levels. It made intraday high at 3.0662 and low at 3.0546 levels. Intraday bias remains bearish for the moment till the time pair holds key resistance at 3.0755 levels. Key resistan…
It made intraday high at 3.0662 and low at 3.0546 levels.
Intraday bias remains bearish for the moment till the time pair holds key resistance at 3.0755 levels.
Key resistances are seen 3.0755, 3.0970, 3.1048, 3.1128 and 3.1276 levels respectively.
Alternatively, sustained close below 3.0514 will drag the parity down towards key supports around 3.0343, 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 short on USD/TRY only below 3.0593, stop loss at 3.0755 and target of 3.0343.
