USDTRY

The USD/TRY pair is moving with the effect of the Christmas holiday in global markets and the anticipation of the CBRT's Monetary Policy Decisions. The Dollar/TL may exhibit TL-based partial mobility in line with the CBRT's interest rate decision and the messages it will deliver for the future. Looking at the performance of developing country currencies against the US Dollar, we see that the Turkish Lira has a neutral stance. The pair is trading near the level of 35.19 and may remain at these levels due to developments in the domestic market.

Technically, USD/TRY is trading above the 34.98 support level on the 4-hour chart, and staying above this level may allow for the continuation of upward movement. In upward movements, resistance levels at 35.21, 35.28, and 35.33 should be monitored. If the pair stays permanently above the 35.33 level, it could strengthen its current trend-oriented movement. The RSI indicator is at the 48 level, displaying a neutral outlook. Considering a 0.12% decline compared to the previous day, the pair may show a tendency to consolidate in the 34.98 – 35.33 range.