USDTRY

The USD/TRY pair is trading in an environment where emerging market currencies generally exhibit weak performance against the US Dollar. In this scenario, where the Philippine Peso stands out as the weakest and the Peruvian Sol as the strongest currency, the Turkish Lira depreciates by 0.07%, positioning itself on the weaker side. As fluctuations occur in the markets ahead of the inflation data release in the US, expectations of a Fed rate cut may also impact the pair. During this period marked by mixed trends in Asian and US markets, the markets particularly monitor critical data like US inflation and Fed policy.

From a technical standpoint, the USD/TRY pair is trading within a range close to the 34.87 level. In the daily chart, the levels of 34.76, 34.66, and 34.58 are monitored as support, while 34.88, 34.94, and 35.00 levels stand out as resistance points. The RSI indicator is at 70, indicating an overbought area and presenting a positive outlook. If the pair breaks through the 34.88 resistance in its upward movements, it may increase upward momentum. However, following a 0.40% rise compared to the previous day, pricing at these resistance levels should be closely monitored.