- USD/TRY is currently trading at 2.9844 levels.
- It made intraday high at 2.9867 and low at 2.9786 levels.
- Intraday bias remains bullish till the time pair holds key support at 2.9786 marks.
- A sustained close below 2.9725 will drag the parity down towards key supports around 2.9667, 2.9598, 2.9189, 2.9015 and 2.8847 thereafter.
- On the other side, key resistance levels are seen at 2.9977, 3.0085, 3.0392, 3.0675, 3.0749, 3.0921, 3.0967 and 3.1048 levels 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 take long position in USD/TRY around 2.98, stop loss 2.9725 and target 3.0085.
