USDTRY

The USD/TRY pair is trading near the 34.96 level due to the weak performance of the Turkish Lira, which is lagging among the currencies of developing countries. The TL remains under pressure from various factors such as low retail sales data in China and expectations regarding US interest rate policy, impacted by developments in global markets. The week, which the US Dollar started with limited losses, adds an additional pressure factor on the TL.

Technically, the USD/TRY pair finds support at 34.9, 34.8, and 34.76 levels, while upward movements may encounter resistance at 34.99, 35.065, and 35.11 levels. When analyzed on the chart, it is observed that the pair is moving in the hourly time frame. The RSI indicator stands at the 52 level and displays a neutral outlook. The pair shows a 0.03% change compared to the previous day. If current levels are maintained, the upward movement may continue. However, if the level of 34.76 is breached downwards, a consolidation trend might come into play for the pair.