- USD/TRY is currently trading at 3.8570 levels.
- It made intraday high at 3.8938 and low at 3.7807 levels.
- Intraday bias remains bullish for the moment.
- Key resistances are seen at 3.8938, 3.9076, 3.9226 and 3.9438 levels respectively.
- A sustained close below 3.7812 will drag the parity down towards key supports around 3.8221, 3.8019, 3.7875, 3.7807 and 3.7661 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 3.8490, stop loss 3.7812 and target of 3.8938/3.9076.