- USD/TRY is currently trading at 3.8640 levels.
- It made intraday high at 3.8797 and low at 3.8446 levels.
- Intraday bias remains bullish for the moment.
- Key resistances are seen at 3.9106, 3.9438, 3.9618, 3.9755 and 3.9927 levels respectively.
- A sustained close below 3.8622 will drag the parity down towards key supports around 3.8432, 3.8221, 3.8019, 3.7875, 3.7807 and 3.7661 thereafter.
- 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 3.86, stop loss 3.8358 and target of 3.9416.
