- USD/TRY is currently trading at 3.0785 levels.
- It made intraday high at 3.0847 and low at 3.0767 levels.
- Intraday bias remains bullish for the moment till the time pair holds key support at 3.0678 levels.
- Key resistances are seen at 3.0887, 3.0967 and 3.1048 levels respectively.
- Alternatively, reversal from key resistance will drag the parity down towards key supports around 3.0678, 3.0536, 3.0343, 3.0159, 2.9932, 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 will release current account balance at 0700 GMT.
We prefer to go long on USD/TRY around 3.0750, stop loss at 3.0678 and target of 3.0887/3.0967.