FxWirePro: Turkish lira erases previous loss against U.S. dollar, stabilizes around 3.75 mark
Friday, February 3, 2017 8:20 AM UTC
- USD/TRY is currently trading at 3.75 levels.
- It made intraday high at 3.7579 and low at 3.7273 levels.
- Intraday bias remains bullish for the moment.
- Key resistances are seen at 3.7729, 3.8038, 3.8618, 3.9106, 3.9438, 3.9618, 3.9755 and 3.9927 levels respectively.
- A sustained close below 3.7351 will drag the parity down towards key supports around 3.7060, 3.6848 and 3.6282 marks 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 3.75, stop loss 3.7185 and target of 3.80.