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FxWirePro: USD/TRY hovers around 3.74 mark, downside limited

  • USD/TRY is currently trading at 3.7435 levels.
     
  • It made intraday high at 3.7485 and low at 3.7208 levels.
     
  • Intraday bias remains bullish till the time pair holds key support at 3.7282 marks.  
     
  • Key resistances are seen at 3.7767, 3.8038, 3.8618, 3.9106, 3.9438, 3.9618, 3.9755 and 3.9927 levels respectively.
     
  • A sustained close below 3.7282 will drag the parity down towards key supports around 3.7221, 3.7026, 3.6848, 3.6712, 3.6580, 3.6367 and 3.6282 marks 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 3.7380, stop loss 3.7282 and target of 3.7858.
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