USDTRY

The emerging country currencies are separated against the US Dollar. While the Turkish Lira is on the neutral side of the list with a 0.00 percent performance, USDTRY is currently trading close to 29.09 on the third trading day of the week. When we evaluate the USDTRY exchange rate technically, the 28.79 level representing the 1st Envelope (red) indicator is important, and the exchange rate may want to continue its positive outlook on the relevant region. With this in mind, an increase can be observed towards the levels of 29.12, 29.20 and 29.30. Permanent movements above 29.36 may strengthen the upward trend. Otherwise, pressure may be observed. In such a pressure, it should not be forgotten that as long as there is no new development that will strengthen the TL side, the declines may remain limited, and even if the declines continue, trend-oriented expectations above the 233-period exponential moving average (28.66) occupy the agenda. Support: 28.85 – 28.30 Resistance: 29.20 – 29.60