FxWirePro: USD/TRY hovers around 2.94 mark; stay bearish
USD/TRY is currently trading at 2.9415 levels. It made intraday high at 2.9480 and low at 2.9406 levels. Intraday bias remains bearish till the time pair holds key resistance at 2.9661 marks. A sustained close below 2.94…
It made intraday high at 2.9480 and low at 2.9406 levels.
Intraday bias remains bearish till the time pair holds key resistance at 2.9661 marks.
A sustained close below 2.9420 will drag the parity down towards key supports around 2.9326, 2.9238, 2.9178, 2.9015 and 2.8847 thereafter.
On the other side, key resistances are seen at 2.9661, 2.9710, 2.9867, 2.9977, 3.0085, 3.0392, 3.0675, 3.0749, 3.0921, 3.0967 and 3.1048 levels respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
We prefer to take short position in USD/TRY around 2.9435, stop loss 2.9509 and target 2.9326/2.9238.
