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 3.7…
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.
