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FxWirePro: USD/TRY takes halt around 4.57 mark, bias remains neutral

  • USD/TRY is currently trading at 4.5766 levels.
     
  • It made intraday high at 4.5781 and low at 4.5330 levels.
     
  • Intraday bias remains neutral for the moment.
     
  • Key resistances are seen at 4.6282, 4.6347, 4.6484 and 4.6888 marks respectively.
     
  • On the other side, A sustained close below 4.5539 will drag the parity down towards key supports around 4.5388 ,4.5183, 4.4875 and 4.4617 marks respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
     
  • CBRT will release late liquidity window rate, 1-week repo rate, overight borrowing-lending rate at 1100 GMT.

We prefer to go long on USD/TRY  only above  4.6327, stop loss at 4.5751 and target of 4.6888.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest

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