USDTRY

In a morning when developing country currencies diverge against the US Dollar, the Turkish Lira is on the weak side of the list with a performance of 0.13 percent. When we evaluate the USDTRY exchange rate in the short term, the level of 28.85 is important, but the exchange rate may want to continue its positive outlook in the relevant region. With this in mind, an increase towards the levels of 29.25, 29.32 and 29.40 can be observed. In particular, permanent movements above 29.43 can strengthen the idea of a possible increase. Otherwise, pressure can be observed towards the lower point of the 1st Envelope indicator. 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 (28.71) occupy the agenda. Support: 28.95 – 28.66 Resistance: 29.25 – 29.40