USDTRY

On a morning when emerging market currencies varied against the US Dollar, the Philippine Peso was recorded as the weakest currency, down 0.37%. The Brazilian Real, on the other hand, holds the title of the strongest currency with a gain of 0.04%. The Turkish Lira is in a weak zone with a decline of 0.02%, while the USDTRY is trading close to the level of 35.89 at the time of analysis.

In short-term assessments of USDTRY, the lower point of the first Envelope indicator (purple) is at 35.72. As long as the exchange rate stays above this level, it can maintain its optimism. In this case, movements towards levels of 35.96, 36.03, and 36.08 may be observed. Sustaining above the upper point of the first Envelope indicator at 36.08 could reinforce the current trend in pricing behavior. Otherwise, a consolidation between 35.72 and 36.08 may occur. No significant news flow in TL terms is expected to change the trend in the exchange rate.