USDTRY

Emerging market currencies continue to move in different directions against the US Dollar. Today, the weakest currency is the Malaysian Ringgit, which has fallen by 0.70%, while the Colombian Peso stands out as the strongest currency with a 0.08% increase. The Turkish Lira holds a weak position on the list with a 0.25% decline, and as of the moment this analysis is being conducted, the USDTRY exchange rate is trading at 35.86.

When evaluating the USDTRY exchange rate in the short term, the lower point of the first Envelope indicator at 35.62 emerges as a critical threshold. As long as the exchange rate remains above this level, an upward movement towards 35.87, 35.93, and 35.98 seems possible. Particularly, if the upper point of the first Envelope indicator sustains above 35.98, an strengthening of the current trend can be expected. Otherwise, a consolidation process between 35.62 and 35.98 may be observed. Unless there is significant news flow in TL terms, no notable trend change is anticipated in the markets.