USDTRY

The performance of currencies against the US Dollar in emerging markets is following a remarkable trend. Today, the strongest currency is the Brazilian Real, which has risen by 1.17%, while the weakest currency is the Philippine Peso, which has depreciated by 0.25%. The Turkish Lira is among the strong currencies with a slight increase of 0.04%, trading at around 36.20 at the time of the USDTRY analysis.

In the short term, when evaluating the USDTRY exchange rate, the lower point of the 1st Envelope indicator (purple) is around 36.00. If the rate continues to stay above this zone, it could show an upward movement towards 36.23, 36.31, and 36.37 levels. Particularly, maintaining above the 36.37 level could strengthen the current trend. However, unless there is a significant news flow in TL terms, a consolidation between 36.00 and 36.37 is likely.