- USD/TRY is currently trading at 4.5470 levels.
- It made intraday high at 4.5891 and low at 4.5448 levels.
- Intraday bias remains slightly bearish for the moment.
- Key resistances are seen at 4.5726, 4.5985, 4.6220 and 4.6448 marks respectively.
- On the other side, A sustained close below 4.5726 will drag the parity down towards key supports around 4.5220, 4.5001, 4.4875, 4.4427 and 4.40 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
We prefer to go short on USD/TRY around 4.5500, stop loss at 4.6000 and target of 4.4875.
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