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FxWirePro: USD/TRY remains well supported above 2.95 mark, faces strong resistance at 2.9579

Monday, August 29, 2016 6:57 AM UTC

USD/TRY is currently trading at 2.9542 levels.
It made intraday high at 2.9572 and low at 2.9458 levels.
Intraday bias remains bullish till the time pair holds key support at 2.9239 marks.
A sustained close below 2.9239 will drag the parity down towards key supports around 2.9178, 2.9015 and 2.8847 thereafter.
On the other side, key resistances are seen at 2.9579, 2.9699, 2.9867, 2.9977, 3.0085, 3.0392, 3.0675, 3.0749, 3.0921, 3.0967 and 3.1048 levels respectively.

We prefer to take long position in USD/TRY only above 2.9579, stop loss 2.93 and target 2.9977.

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FxWirePro: USD/TRY remains well supported above 2.95 mark, faces strong resistance at 2.9579

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