USDTRY

On a morning when currencies in emerging markets varied against the US Dollar, the weakest currency was recorded as the Malaysian Ringgit (-0.34%), while the strongest was the Thai Baht (+0.38%). The Turkish Lira, declining by 0.30%, is among the weaker currencies and is trading near the level of 35.99 during the USDTRY analysis.

In the short-term assessment of USDTRY, the lower point of the Envelope indicator (purple) is at 35.75. As long as the exchange rate stays above this level, an optimistic trend may be observed. This situation could create a movement range towards 36.03, 36.10, and 36.19 levels. In particular, staying above 36.10 could strengthen the current trend-based pricing behavior. Otherwise, a squeeze may be observed between 35.75 and 36.10. No trend change is expected unless there is sharp news flow based on the Turkish Lira. Key levels: 35.75 and 36.10.