FxWirePro: USD/TRY hovers around 3.08 mark, Turkey’s current account balance in focus
USD/TRY is currently trading at 3.0785 levels. It made intraday high at 3.0847 and low at 3.0767 levels. Intraday bias remains bullish for the moment till the time pair holds key support at 3.0678 levels. Key resistances…
It made intraday high at 3.0847 and low at 3.0767 levels.
Intraday bias remains bullish for the moment till the time pair holds key support at 3.0678 levels.
Key resistances are seen at 3.0887, 3.0967 and 3.1048 levels respectively.
Alternatively, reversal from key resistance will drag the parity down towards key supports around 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.
Turkey will release current account balance at 0700 GMT.
We prefer to go long on USD/TRY around 3.0750, stop loss at 3.0678 and target of 3.0887/3.0967.
