USDTRY

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USDTRY

The USD/TRY pair stands out with a slightly strong performance of the Turkish Lira on a day when the currencies of emerging countries are generally maintaining their strength. While weak technology company earnings in the U.S. and increasing risks in the Middle East cause fluctuations in global markets, positive data from China have strengthened some Asian indexes. The upcoming non-farm payrolls data in the U.S. and the expectation of a rate cut by the Fed may have a significant impact on the dollar.

In the chart, the USD/TRY pair is trading between the support levels of 34.33 and 34.22, with resistance levels of 34.37 and 34.45 being monitored during upward movements. The pair is trading near the 34.27 level on the 4-hour chart. The RSI indicator is at 57, showing a positive outlook. It has increased by 0.19% compared to the previous day. For the continuation of the upward trend in the pair, breaking the 34.37 resistance is crucial. However, a sustained move below the 34.33 support could bring potential reaction selling into focus.

Support :

34.33 - 34.22 - 34.16

Resistance :

34.37 - 34.45 - 34.52