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FxWirePro: USD/TRY fails to sustain below 2.95 mark, good to buy on dips

  • USD/TRY is currently trading at 2.9530 levels.
     
  • It made intraday high at 2.9599 and low at 2.9475 levels.
     
  • Intraday bias remains bullish till the time pair holds key support at 2.9442 marks.
     
  • A sustained close below 2.9442 will drag the parity down towards key supports around 2.9260, 2.9189, 2.9015 and 2.8847 thereafter.
     
  • On the other side, key resistances are seen at 2.9637, 2.9699, 2.9867, 2.9977, 3.0085, 3.0392, 3.0675, 3.0749, 3.0921, 3.0967 and 3.1048 levels respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.

We prefer to take long position in USD/TRY only above 2.9550, stop loss 2.9442 and target 2.9699/2.9749/2.9977.

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