- USD/TRY is currently trading at 6.2596 levels.
- It made intraday high at 6.3292 and low at 6.2572 levels.
- Intraday bias remains neutral for the moment.
- Key resistances are seen at 6.3775, 6.4050, 6.4630 and 6.4943 marks respectively.
- On the other side, A sustained close below 6.1920 will drag the parity down towards key supports around 6.1251, 6.0170, 6.0093 and 5.9643 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- Turkey will release manufacturing confidence and capacity utilisation data at 1130 GMT.
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.