- USD/TRY is currently trading around 5.8362 mark.
- It made intraday high at 5.8352 and low at 5.7891 mark.
- Intraday bias remains bullish for the moment.
- A daily close above 5.8062 will take the parity higher towards key resistance at 5.8515, 5.8788, 5.9092 and 5.9426 marks respectively.
- Alternatively, a daily close below 5.8062 will drag the parity down towards key supports around 5.7889, 5.7510, 5.7250, 5.7094 and 5.6718 mark respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
We prefer to take long position on USD/TRY around 5.8250, stop loss at 5.7889 and target of 5.8515/5.8788.