FxWirePro: USD/TRY hits fresh 5-week high at 2.9781, good to buy on dips

12 September 2016, 14:37
Eko Rediantoro
0
16

  • USD/TRY is currently trading at 2.9705 levels.
     
  • It made intraday high at 2.9781 and low at 2.9614 levels.
     
  • Intraday bias remains bullish for the moment.  
     
  • Key resistances are seen at 2.9781, 2.9867, 2.9977, 3.0085, 3.0392, 3.0675, 3.0749, 3.0921, 3.0967 and 3.1048 levels respectively.
     
  • A sustained close below 2.95 will drag the parity down towards key supports around 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.

We prefer to go long on USD/TRY around 2.9675, stop loss 2.95 and target of 2.9977.


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