FxWirePro: USD/TRY hits fresh record high at 3.4755 after CBRT’s rate decision
USD/TRY is currently trading at 3.4626 levels. It made intraday high at 3.4755 and low at 3.4402 levels. Intraday bias remains bullish till the time pair holds key support at 3.3928 levels. Key resistances are seen 3.481…
It made intraday high at 3.4755 and low at 3.4402 levels.
Intraday bias remains bullish till the time pair holds key support at 3.3928 levels.
Key resistances are seen 3.4810, 3.4987 and 3.5223 marks respectively.
Alternatively, sustained close below 3.3928 will drag the parity down towards key supports around 3.3551, 3.3089, 3.2811, 3.2490, 3.2067 and 3.1635 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
Yesterday CBRT released rate decision.
Turkey November capacity utilisation stays flat at 76.4 % vs previous 76.4 %.
Turkey November o/n borrowing rate stays flat at 7.25 % (forecast 7.25 %) vs previous 7.25 %.
Turkey November capacity utilisation stays flat at 76.4 % vs previous 76.4 %.
Turkey November CBT weekly repo rate increase to 8 % (forecast 7.75 %) vs previous 7.50 %.
We prefer to go long on USD/TRY around 3.4550, stop loss at 3.43 and target of 3.5223.
