USDTRY

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USDTRY

The USD/TRY exchange rate is trading in an environment where emerging market currencies are generally exhibiting a strong performance against the US Dollar. The Turkish Lira has appreciated by 0.04%, causing the USD/TRY rate to remain close to the level of 34.27. In global markets, the fluctuating trend in the US and Asian indices and the negative divergence of China and Hong Kong are noteworthy, while the increase in the Michigan Consumer Confidence Index from the US could also affect the overall outlook of the dollar. In Turkey, the inflation report presentation by the CBRT President and inflation expectations might have an impact on the Turkish Lira.

Technically, the USD/TRY pair maintains its positive outlook in the short term by staying above the level of 34.09. In upward movements, resistance levels at 34.30, 34.36, and 34.44 can be observed. Particularly, sustained movements above the 34.44 level could strengthen the upward potential. In downward movements, support levels of 34.3, 34.22, and 34.16 should be monitored. The RSI indicator is at the 60 level and shows a positive trend. The pair shows a change of 0.31% compared to the previous day.

Support :

34.3 - 34.22 - 34.16

Resistance :

34.37 - 34.45 - 34.5