- USD/TRY is currently trading at 3.4626 levels.
- It made intraday high at 3.4755 and low at 3.4402 levels.
- Intraday bias remains bullish till the time pair holds key support at 3.3928 levels.
- Key resistances are seen 3.4810, 3.4987 and 3.5223 marks respectively.
- Alternatively, sustained close below 3.3928 will drag the parity down towards key supports around 3.3551, 3.3089, 3.2811, 3.2490, 3.2067 and 3.1635 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- Yesterday CBRT released rate decision.
- Turkey November capacity utilisation stays flat at 76.4 % vs previous 76.4 %.
- Turkey November o/n borrowing rate stays flat at 7.25 % (forecast 7.25 %) vs previous 7.25 %.
- Turkey November capacity utilisation stays flat at 76.4 % vs previous 76.4 %.
- Turkey November CBT weekly repo rate increase to 8 % (forecast 7.75 %) vs previous 7.50 %.
We prefer to go long on USD/TRY around 3.4550, stop loss at 3.43 and target of 3.5223.


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