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FxWirePro: USD/TRY remains well supported below 2.96, sustained break below 2.95 targets 2.9318

USD/TRY is currently trading at 2.9568 levels. It made intraday high at 2.9655 and low at 2.9552 levels. Intraday bias remains bearish till the time pair holds key resistance at 2.9672 marks. A sustained close below 2.95…

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FxWirePro: USD/TRY remains well supported below 2.96, sustained break below 2.95 targets 2.9318
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  • USD/TRY is currently trading at 2.9568 levels.
     
  • It made intraday high at 2.9655 and low at 2.9552 levels.
     
  • Intraday bias remains bearish till the time pair holds key resistance at 2.9672 marks.
     
  • A sustained close below 2.95 will drag the parity down towards key supports around 2.9318, 2.9178, 2.9015 and 2.8847 thereafter.
     
  • On the other side, key resistances are seen at 2.9672, 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 short position in USD/TRY around 2.9570, stop loss 2.9671 and target 2.9318.

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