USDTRY

Currencies in emerging markets are following different trends against the US Dollar. Today, the weakest currency is the Peruvian Sol at 0.16%, while the strongest is the Philippine Peso at 0.18%. The Turkish Lira is positioned in the weak zone at 0.03%, trading at around 36.60 at the time of the USDTRY analysis.

When evaluating the USDTRY exchange rate in the short term, the lower point of the 1st Envelope indicator (purple), which is 36.40, is a critical level. As long as the rate remains above this level, it can maintain its optimism. In this case, the likelihood of moving towards 36.62, 36.67, and 36.72 increases. If the upper point of the 1st Envelope indicator exceeds 36.77, the current trend may strengthen and create new movement areas. Otherwise, a squeeze between 36.40 and 36.77 may be observed. No trend change is expected unless there is sharp news flow in TL terms. Key levels: 36.40 and 36.77.