- USD/TRY is currently trading at 4.1539 levels.
- It made intraday high at 4.1561 and low at 4.1058 levels.
- Intraday bias remains bullish till the time pair holds key support at 4.0302 levels.
- Key resistances are seen at 4.1588, 4.1723, 4.1845 and 4.2224 levels respectively.
- A sustained close below 4.1094 will drag the parity down towards key supports around 4.0855, 4.0711, 4.0563, 4.0331, 4.0073, 3.9944 and 3.9845 marks respectively.
- 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 4.1350, stop loss at 4.0563 and target of 4.1845.
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