FxWirePro: USD/TRY rejects key support at 2.9647, good to buy on dips
USD/TRY is currently trading at 2.9709 levels. It made intraday high at 2.9724 and low at 2.9647 levels. Intraday bias remains bullish till the time pair holds key support at 2.9647. Key resistances are seen at 2.9885, 2…
It made intraday high at 2.9724 and low at 2.9647 levels.
Intraday bias remains bullish till the time pair holds key support at 2.9647.
Key resistances are seen at 2.9885, 2.9977, 3.0085, 3.0268, 3.0392, 3.0675, 3.0749, 3.0921, 3.0967 and 3.1048 levels respectively.
A sustained close below 2.9647 will drag the parity down towards key supports around 2.9614, 2.9495, 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.
We prefer to go long on USD/TRY around 2.97, stop loss 2.9647 and target of 2.9885/2.9977.
