- 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, 3.0392, 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.
