Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/TRY remains well supported above 2.98 mark, bias turns to bullish again

  • 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.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.