FxWirePro: USD/TRY rejects key support at 4.0297 mark, good to buy on dips

• USD/TRY is currently trading at 4.0725 levels.
   
• It made intraday high at 4.0737 and low at 4.0533 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 4.0297 levels. 
   
• Key resistances are seen at 4.0796, 4.0855, 4.1170, 4.1396, 4.1520, 4.1606, 4.1723, 4.1845, 4.1934 and 4.2224 levels respectively.
   
• A sustained close below 4.0610 will drag the parity down towards key supports around 4.0563, 4.0331, 4.0073, 3.9944 and 3.9845 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 4.0690, stop loss at 4.0297 and target of 4.1102.

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