FxWirePro: USD/TRY hovers 3.05 mark, highest level since July, 2016
USD/TRY is currently trading at 3.0506 levels. It made intraday high at 3.0630 and low at 3.0498 levels. Intraday bias remains neutral for the moment till the time pair holds key resistance at 3.0653 levels. Key resistan…
It made intraday high at 3.0630 and low at 3.0498 levels.
Intraday bias remains neutral for the moment till the time pair holds key resistance at 3.0653 levels.
Key resistances are seen at 3.0675, 3.0875, and 3.1048 levels respectively.
A sustained close below 3.0411 will drag the parity down towards key supports around 3.0146, 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. Current downside movement is short term trend correction only.
We prefer to go short on USD/TRY around 3.0550, stop loss at 3.0653 and target of 3.0146.
