USDTRY

USDTRY On the day when emerging market currencies diverge against the US Dollar, the Turkish Lira is on the neutral side, while the USDTRY is currently trading close to 29.05 on the second trading day of the week. When we evaluate the USDTRY exchange rate technically, the 28.75 level is important, but the exchange rate may want to continue its positive outlook in the relevant region. With this in mind, an increase can be observed towards the levels of 29.07, 29.15 and 29.25. Permanent movements above 29.33 may strengthen the idea of a possible increase. Otherwise, pressure can be observed towards the lower point of the 1st Envelope indicator. It should not be forgotten that unless there is a new development that will strengthen the TL side in such a pressure, the declines may remain limited and even if the declines continue, trend-oriented expectations above the 233-period exponential moving average (28.64) are on the agenda. Support: 28.85 – 28.30 Resistance: 29.20 – 29.60