USDTRY

The USD/TRY pair is trading in an environment where the currencies of emerging countries are diverging against the US Dollar, with the Turkish Lira showing weak performance. Compared to other emerging market currencies like the Chilean Peso and Thai Baht, the weaker trend of the Turkish Lira is notable. While China-backed positive developments in Asian markets positively affect the general market sentiment, their impact on the Turkish Lira remains limited.

From a technical perspective, the level of 34.63 is observed as an important support point for the USD/TRY pair. As the pair trends near the 34.83 level, upward movements may see resistance levels at 34.86, 34.92, and 34.98 respectively. The RSI indicator displays a neutral outlook. The pair marked a 0.02% change from the previous day. The compression tendency between the range of 34.63 – 34.98 may continue, but sustained movement above the 34.98 resistance could strengthen the upward movement.