USD/TRY is currently trading at 2.9531 levels. It made intraday high at 2.9560 and low at 2.9491 levels. Intraday bias remains bearish for the moment. Key resistances are seen at 2.9647, 2.9874, 2.9977, 3.0085, 3.0268, 3…
It made intraday high at 2.9560 and low at 2.9491 levels.
Intraday bias remains bearish for the moment.
Key resistances are seen at 2.9647, 2.9874, 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 2.9491 will drag the parity down towards key supports around 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 short on USD/TRY only below 2.9491, stop loss at 2.9647 and target of 2.9207.
