- 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 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.
