USDTRY
The USD/TRY pair has managed to remain relatively strong in an environment where the currencies of emerging markets are performing well against the US Dollar. The weakening of the Yen following elections in Japan and the positive sentiment in Asian markets are increasing regional risk appetite. However, geopolitical developments, such as tensions between Israel and Iran, are having a limited impact on oil prices, while economic data from the US and the Eurozone are being closely monitored. The Turkish Lira is maintaining a relatively stable course in the shadow of these global developments.
Technically, the USD/TRY pair is trading near the level of 34.27. On the 4-hour chart, it is seen that the pair may find support at the levels of 34.22, 34.16, and 34.07. For upward movements, the resistance levels to be monitored are 34.30, 34.37, and 34.44. The RSI indicator is at 51, presenting a neutral outlook. The pair has increased by 0.01% compared to the previous day and continues its oscillation between the current technical levels. A sustained move above the 34.44 level could be critical for the continuation of the upward trend.
Support :
Resistance :