USDTRY

On a day when the currencies of emerging markets moved in different directions against the US Dollar, the strongest currency was the Malaysian Ringgit, while the Turkish Lira displayed the weakest performance. Due to political developments, the depreciation of the Turkish Lira accelerated, drawing attention with the USDTRY reaching the 41 level. It seems that the Central Bank of the Republic of Turkey's intervention has stabilized the movement around the 38 level. The impact of domestic political events on the pricing of TL assets should be monitored closely.

In the short term, the USDTRY exchange rate shows the 144-period average (36.56) as a key support level. The exchange rate may exhibit a positive outlook above this average. An upward movement towards 38.06, as well as levels of 38.31 and 38.74, can be observed. The status of the 39.26 level is crucial in determining whether a rally towards the 41.02 peak will occur. Additionally, the break of the 37.59 interim support zone should be considered for a potential reaction movement.