FxWirePro: Turkish lira weakens against U.S. dollar, consistent break above 2.9932 targets 3.0268

14 September 2016, 01:34
Eko Rediantoro
0
5
  • USD/TRY is currently trading at 2.9778 levels.
     
  • It made intraday high at 2.9787 and low at 2.9624 levels.
     
  • Intraday bias remains bullish till the time pair holds key support at 2.9614.
     
  • Key resistances are seen at 2.9787, 2.9867, 2.9977, 3.0085, 3.0268, 3.0392, 3.0675, 3.0749, 3.0921, 3.0967 and 3.1048 levels respectively.
     
  • A sustained close below 2.9614 will drag the parity down towards key supports around 2.9495, 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 2.9745, stop loss 2.9614 and target of 2.9932/3.0111/3.0268

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