FxWirePro: USD/TRY hits fresh 8-week high at 3.0098; stay bullish
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 …
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.
