USDTRY

The USD/TRY pair stands out with the Turkish Lira's weak position among the performances of emerging countries' currencies against the US Dollar. When compared to the performances of the Malaysian Ringgit and the Philippine Peso, the TL is seen to be on a weak path. While positive sentiment prevails in Asian indices, US indices are more stable. Nonetheless, the decline in US 10-year bond yields and the sideways movement in the dollar index may be decisive for the range of movement in the pair.

In technical analysis, the USD/TRY pair is trading around the 35.26 level, remaining above the 35.03 support level in the short term. This situation increases the likelihood of the pair moving towards the 35.30 and 35.38 resistance levels in upward movements. The RSI indicator shows a positive trend at the 63 level. The pair has increased by 0.39% compared to the previous day. Possible movements above 35.38 could support the continuation of the upward trend. However, a congestion tendency within the 35.03-35.38 range may also be observed.