FxWirePro: USD/TRY hits fresh 3-month high at 3.0809, faces strong resistance at 3.0876
USD/TRY is currently trading at 3.0785 levels. It made intraday high at 3.0809 and low at 3.0678 levels. Intraday bias remains bullish for the moment till the time pair holds key support at 3.0343 levels. Key resistances…
It made intraday high at 3.0809 and low at 3.0678 levels.
Intraday bias remains bullish for the moment till the time pair holds key support at 3.0343 levels.
Key resistances are seen at 3.0876, 3.0967 and 3.1048 levels respectively.
Alternatively, reversal from key resistance will drag the parity down towards key supports around 3.0536, 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 long on USD/TRY around 3.07, stop loss at 3.0416 and target of 3.0876/3.0967.
