- USD/TRY is currently trading at 4.5946 levels.
- It made intraday high at 4.5997 and low at 4.5184 levels.
- Intraday bias remains bullish till the time pair holds key support at 4.4541.
- Key resistances are seen at 4.6002, 4.6347, 4.6426 and 4.6888 marks respectively.
- On the other side, A sustained close below 4.5200 will drag the parity down towards key supports around 4.4815, 4.4688, 4.4542, 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.
- Turkey May manufacturing PMI decrease to 46.4 vs previous 48.9.
We prefer to go long on USD/TRY around 4.5850, stop loss at 4.5180 and target of 4.6888.
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