FxWirePro: USD/TRY rallies to near 9-month high, intraday bias bullish

• The Turkish Lira plunged to a fresh near 9-month low after data showed consumer confidence eased during the month of February. 
   
• Turkey's consumer confidence declined to 57.3 in February from 58.8 in the previous month, its weakest since October last year.
   
• USD/TRY is trading 0.6 percent up at 6.1241, having hit a high of 6.1244 earlier, its highest since May 24. 
   
• Momentum indicators are bullish - RSI strong at 80, MACD supports upside and Stochs are at overbought levels.
   
• Immediate resistance is located at 6.1285, any close above could take it above 6.1311.
   
• On the downside, support is seen at 6.0820 and break below could take it near 6.0665 (5-DMA).

Recommendation: Good to buy on dips around 6.0845, with stop loss of 6.0820 and target price of 6.1285.