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FxWirePro: Turkish lira erases previous loss against U.S. dollar, stabilizes around 3.75 mark

  • 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.
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