FxWirePro: USD/TRY hits fresh 3-week low at 2.9621, faces strong support at 2.9601
USD/TRY is currently trading at 2.9650 levels. It made intraday high at 2.9700 and low at 2.9621 levels. Intraday bias remains bearish till the time pair holds key resistance at 2.9977 marks. A sustained close below 2.96…
It made intraday high at 2.9700 and low at 2.9621 levels.
Intraday bias remains bearish till the time pair holds key resistance at 2.9977 marks.
A sustained close below 2.9601 will drag the parity down towards key supports around 2.9189, 2.9015 and 2.8847 thereafter.
On the other side, key resistance levels are seen at 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. Current downside movement is short term trend correction only.
We prefer to take short position in USD/TRY only below 2.9601, stop loss 2.9725 and target 2.9548/2.9189.
