USDTRY

The USD/TRY exchange rate stands out with the volatility of emerging market currencies against the US Dollar. The Turkish Lira is experiencing a fluctuating trend against other currencies due to the expected announcement of US inflation data during the day. The US inflation data could be decisive regarding how the Fed will shape its interest rate policy. Economic uncertainties and economic data from the US continue to create pressure on the Turkish Lira. Despite the general weakening trend of the Dollar, the TL displays a limited range of movement throughout the day, also impacted by Turkey-specific risks.

From a technical perspective, the USD/TRY pair is trading at levels close to the 35.50 resistance. In upward movements, the levels of 35.58 and 35.66 gain significance as resistance. In downward movements, the levels of 35.37, 35.30, and 35.22 are monitored as support. The RSI indicator is at the 49 level, exhibiting a neutral market outlook. Compared to the previous day, the pair shows a slight decrease of 0.11%. While the pair exhibits a tendency to be confined within the defined levels, sharp movements could be seen with possible economic developments.