- USD/TRY is currently trading at 3.0533 levels.
- It made intraday high at 3.0612 and low at 3.0308 levels.
- Short term outlook remains bullish till the time pair holds key support level at 2.9962 levels.
- In addition, a daily close below key support level will drag the parity down towards 2.9598, 2.9189, 2.9015 and 2.8847 thereafter.
- On the other side, key resistance levels are seen at 3.0744, 3.0928 and 3.1048 levels respectively.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
