- USD/TRY is currently trading at 3.0812 levels.
- It made intraday high at 3.0830 and low at 3.0756 levels.
- Intraday bias remains bullish till the time pair holds key support at 3.0546 levels.
- Key resistances are seen 3.0891, 3.0970, 3.1048, 3.1128
and 3.1276 levels respectively.
- Alternatively, sustained close below 3.0546 will drag the parity down towards key supports around 3.0343, 3.0159, 2.9932, 2.9771, 2.9649, 2.9491, 2.9314, 2.9207, 2.9178, 2.9015 and 2.8847 thereafter.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- Turkey will release capacity utilisation rate as well as manufacturing confidence data at 1130 GMT.
We prefer to go long on USD/TRY around 3.0780, stop loss at 3.0546 and target of 3.0977/3.1137.
