USDTRY

USD/TRY pair is trading in an environment where emerging market currencies are diverging against the US Dollar. The Turkish Lira is showing a weak performance compared to other currencies such as the Brazilian Real and the Peruvian Sol. Uncertainty in Asian markets and the flow of economic data in the US are increasing the risk aversion trend in global markets. Particularly, fluctuations in the markets may occur due to expectations regarding the Fed's upcoming interest rate decision. In this situation, potential developments concerning the Turkish economy and pressures on the TRY could affect the USD/TRY pair.

Technically, the USD/TRY pair continues its upward movement above the 34.76 – 34.80 support region. In upward movements, the levels of 34.99, 35.065, and 35.11 are monitored as resistance. The RSI indicator is at the 50 level, displaying a neutral outlook. The pair has increased by 0.08% compared to the previous day. As long as there is no sustained movement below the 34.76 level, the upward pressure may continue. However, unless a sustained movement above the 35.11 resistance is achieved, a tendency for consolidation may be observed.