FxWirePro: USD/TRY hits fresh 8-week high at 3.0098; stay bullish
Friday, September 30, 2016 6:29 AM UTC
- USD/TRY is currently trading at 3.0022 levels.
- It made intraday high at 3.0066 and low at 2.9944 levels.
- Intraday bias remains bullish for the moment till the tie pair holds key support at 2.9905 levels.
- Key resistances are seen at 3.0098, 3.0268, 3.0392, 3.0675, 3.0749, 3.0921, 3.0967 and 3.1048 levels respectively.
- A sustained close below 2.9977 will drag the parity down towards key supports around 2.9905, 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.
- Turkey will release trade balance data at 0700 GMT.
We prefer to go long on USD/TRY around 3.0010, stop loss at 2.9905 and target of 3.0268.