USDTRY

On a morning when emerging market currencies varied against the US Dollar, the strongest currency was the Brazilian Real, which rose by 0.22%, while the weakest was the Taiwanese Dollar, declining by 0.15%. The Turkish Lira, on the other hand, experienced a 0.04% depreciation, positioning it among the weaker currencies, trading around 36.46 at the time of the USDTRY analysis.

In the short term, examining the USDTRY exchange rate reveals that the lower point of the first Envelope indicator, at 36.27, is a significant level. As long as the rate remains above this level, a bullish outlook may prevail. This could create room for movement towards resistance levels of 36.49, 36.56, and 36.63. Sustaining above the upper point of the first Envelope indicator at 36.63 could strengthen the current trend. However, unless there is a sharp development in TL terms, a consolidation between 36.27 and 36.63 is expected.