USDTRY

Most currencies in emerging markets are showing a weak performance against the US Dollar. This morning, the weakest currency was the Thai Baht, which recorded a decline of 0.61%, while the strongest currency was the Indian Rupee, appreciating by 0.72%. The Turkish Lira is among the weaker currencies, with a decline of 0.05%, trading around the 35.99 level during the USDTRY analysis.

In the short-term evaluation of USDTRY, the lower limit of the Envelope indicator (in purple) is at the level of 35.81. If the exchange rate continues to stay above this level, a movement towards 36.05, 36.11, and 36.17 can be observed. Particularly, maintaining above 36.17 could strengthen the current trend. Otherwise, a consolidation period may occur between 35.81 and 36.17. Without significant news related to the Lira, a major trend change in the exchange rate is not expected. Key levels: 35.81 and 36.17.