FxWirePro: Turkish lira falls after lower than expected CPI data

• USD/TRY is currently trading at 3.0075 levels.
   
• It made intraday high at 3.0087 and low at 2.9988 levels.
   
• Intraday bias remains bullish for the moment till the time pair holds key support at 2.9932 levels. 
   
• Key resistances are seen at 3.0112, 3.0268, 3.0392, 3.0675, 3.0749, 3.0921, 3.0967 and 3.1048 levels respectively.
   
• A sustained close below 2.9988 will drag the parity down towards key supports around 2.9905, 2.9771, 2.9649, 2.9491, 2.9314, 2.9207, 2.9178, 2.9015 and 2.8847 thereafter.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
   
• Turkey September CPI y/y decreases to 7.28 % vs previous 8.05 %.
   
• Turkey September PPI y/y decreases 1.78 % vs previous 3.03 %.
   
• Turkey September CPI m/m increases to 0.18 % (forecast 0.66 %) vs previous -0.29 %.
   
• Turkey September manufacturing PMI increases to 48.3 vs previous 47.0.

We prefer to go long on USD/TRY around 3.0030, stop loss at 2.9932 and target of 3.0268.