USD/TRY is currently trading around 5.8362 mark. It made intraday high at 5.8352 and low at 5.7891 mark. Intraday bias remains bullish for the moment. A daily close above 5.8062 will take the parity higher towards key re…
It made intraday high at 5.8352 and low at 5.7891 mark.
Intraday bias remains bullish for the moment.
A daily close above 5.8062 will take the parity higher towards key resistance at 5.8515, 5.8788, 5.9092 and 5.9426 marks respectively.
Alternatively, a daily close below 5.8062 will drag the parity down towards key supports around 5.7889, 5.7510, 5.7250, 5.7094 and 5.6718 mark respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
We prefer to take long position on USD/TRY around 5.8250, stop loss at 5.7889 and target of 5.8515/5.8788.
