USD/TRY is currently trading at 2.8819 levels.
- It made intraday high at 2.8833 and low at 2.8681 levels.
- Intraday bias remains bullish for the moment.
- A recent down fall from the 2.9991 was a corrective move towards 2.8604 marks.
- A daily close below 2.8604 will take the parity towards 2.8217 marks.
- Alternatively, reversal form key support will turn the bias bullish again and drag the parity higher.
- Initial support levels are seen at 2.8716, 2.8490 and 2.8217 marks.
- On the other side, key resistance levels are seen at 2.9071, 2.9150 and 2.9328 levels.
- Important to note here that overall trend remains bearish till the time pair holds key resistance at 2.9300 marks.
We prefer to take long position in USD/TRY around 2.88 levels, stop loss 2.9071/2.9150 marks.
