USDTRY

On a day when the currencies of developing countries are generally exhibiting weak performance against the US Dollar, the Turkish Lira is observed to be among the weakest. In global markets, uncertainties regarding the interest rate policy of the Bank of Japan and expectations of possible rate cuts in the US are attracting attention. The weakness of the Turkish Lira, along with other weak currencies like the Argentine Peso, is causing it to struggle in maintaining resilience against the dollar.

From a technical standpoint, the USD/TRY pair is trading at the level of 34.46, with 34.45, 34.39, and 34.29 levels being monitored as support. In upward movements, resistance levels of 34.52, 34.60, and 37.69 are significant. While the pair tries to stay above the support level, the RSI indicator is at 60, presenting a positive outlook. This situation suggests a potential signal for an upward movement of the pair, although a 0.08% decline was recorded compared to the previous day. According to the Envelope indicator, the 34.60 resistance is highlighted as an important barrier.