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FxWirePro: USD/TRY jumps above 2.96 mark, consistent break above targets 2.9977

  • USD/TRY is currently trading at 2.9631 levels.
     
  • It made intraday high at 2.9655 and low at 2.9586 levels.
     
  • Intraday bias remains bullish till the time pair holds key support at 2.9481 marks.
     
  • A sustained close below 2.9543 will drag the parity down towards key supports around 2.9481, 2.9318, 2.9178, 2.9015 and 2.8847 thereafter.
     
  • On the other side, key resistances are seen at 2.9672, 2.9710, 2.9867, 2.9977, 3.0085, 3.0392, 3.0675, 3.0749, 3.0921, 3.0967 and 3.1048 levels respectively.

We prefer to take long position in USD/TRY around 2.9610, stop loss 2.9481 and target 2.9977.

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