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FxWirePro: USD/TRY remains well supported above 3.05 mark, downside limited

Friday, July 22, 2016 7:24 AM UTC

USD/TRY is currently trading at 3.0687 levels.
It made intraday high at 3.0749 and low at 3.0559 levels.
Intraday bias remains slightly bullish till the time pair holds key support at 3.0534 marks.
A sustain close below 3.05 mark will drag the parity down towards key supports around 3.0218, 3.0122, 2.9598, 2.9189, 2.9015 and 2.8847 thereafter.
On the other side, key
resistance levels are seen at 3.0749, 3.0921, 3.0967 and 3.1048 levels respectively.

We prefer to take long position in USD/TRY around 3.0645, stop loss 3.0534 and target 3.0749/ 3.0921.

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FxWirePro: USD/TRY remains well supported above 3.05 mark, downside limited

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