- USD/TRY is currently trading at 2.9530 levels.
- It made intraday high at 2.9596 and low at 2.9495 levels.
- Intraday bias remains neutral for the moment.
- A sustained close below 2.9314 will drag the parity down towards key
supports around 2.9207, 2.9178, 2.9015 and 2.8847 thereafter.
- On the other side, key resistances are seen at 2.9605, 2.9661, 2.9710,
2.9867, 2.9977, 3.0085, 3.0392, 3.0675, 3.0749, 3.0921, 3.0967 and 3.1048 levels
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
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.