FxWirePro: USD/TRY rejects key support at 3.5187, upside limited
USD/TRY is currently trading at 3.5358 levels. It made intraday high at 3.5383 and low at 3.5187 levels. Intraday bias remains slightly bullish till the time pair holds key support at 3.5243 marks. Key resistances are se…
It made intraday high at 3.5383 and low at 3.5187 levels.
Intraday bias remains slightly bullish till the time pair holds key support at 3.5243 marks.
Key resistances are seen at 3.5441, 3.5525, 3.5757, 3.5851, 3.6036, 3.6238, 3.6552, 3.6925, 3.7180, 3.7479 and 3.7620 levels respectively.
On the other side, a sustained close below 3.5243 will drag the parity down towards key supports around 3.5187, 3.5018 and 3.4854 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
We prefer to go short on USD/TRY only below 3.5187, stop loss 3.5441 and target of 3.5018.
