FxWirePro: USD/TRY hovers around fresh multiyear high at 3.1736, good to buy on dips
USD/TRY is currently trading at 3.1498 levels. It made intraday high at 3.1593 and low at 3.1422 levels. Intraday bias remains bullish till the time pair holds key support at 3.1088 levels. Key resistances are seen 3.173…
It made intraday high at 3.1593 and low at 3.1422 levels.
Intraday bias remains bullish till the time pair holds key support at 3.1088 levels.
Key resistances are seen 3.1736, 3.1819 and 3.2036 marks respectively.
Alternatively, sustained close below 3.1088 will drag the parity down towards key supports around 3.0924, 3.0797, 3.0514, 3.0343 and 3.0159 marks respectively.
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 3.1450, stop loss at 3.1088 and target of 3.1736.
