FxWirePro: USD/TRY hits multiyear high at 3.1028; stay bullish
USD/TRY is currently trading at 3.0950 levels. It made intraday high at 3.1028 and low at 3.0806 levels. Intraday bias remains bullish for the moment till the time pair holds key support at 3.0712 levels. Key resistances…
It made intraday high at 3.1028 and low at 3.0806 levels.
Intraday bias remains bullish for the moment till the time pair holds key support at 3.0712 levels.
Key resistances are seen 3.1048, 3.1099, 3.1189 and 3.1276 levels respectively.
Alternatively, reversal from key resistance 3.0970 will drag the parity down towards key supports around 3.0712, 3.0678, 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 3.0970, stop loss at 3.0712 and target of 3.1099.
