USD/TRY is currently trading at 2.8795 levels.
- It made intraday high at 2.8921 and low at 2.8729 levels.
- Intraday bias remains bearish for the moment.
- A recent down fall from the 2.9991 was a corrective move.
- A daily close below 2.8729 will take the parity towards 2.8217 marks.
- Alternatively, reversal form key support will turn the bias bullish again and drag the parity higher.
- Initial support levels are seen at 2.8716, 2.8490 and 2.8217 marks.
- On the other side, key resistance levels are seen at 2.9071, 2.9150 and 2.9328 levels.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
