USDTRY

The USD/TRY pair stands out with the weak performance of the Turkish Lira against the US Dollar among the currencies of emerging countries. The lack of clarity in the expected stimulus details from China creates selling pressure in Asian markets, while the rise in CPI and PPI data and high unemployment claims in the US limit risk appetite. The increase in bond yields and the rise in the dollar index in the US amplify the pressure on the Turkish Lira. The ECB's interest rate cut decision in the Eurozone continues to influence overall market dynamics.

Technically, the USD/TRY chart is trading near the 34.95 level in the short term. In upward movements of the pair, the 34.88, 34.94, and 35.02 levels can be watched as resistance. In downward movements, the 34.76, 34.68, and 34.58 levels are monitored as support. The RSI indicator is at 53, indicating a neutral market trend. The pair's 0.19% increase compared to yesterday's close suggests continued upward pressure. However, the tendency for prices to squeeze between the 34.73 - 35.08 range should not be overlooked.