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USD/TRY hits fresh 3 month low at 2.8729, intraday bias remains bearish

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.

 

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