USDTRY

Our main focus for USDTRY in domestic markets today will be on the TCMB Monetary Policy Decisions. The market expectation is that the weekly repo rate will increase by 250 basis points to 45.00 percent. When we evaluate the USDTRY exchange rate in the short term, the 29.93 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 30.30, 30.37 and 30.44. Permanent movements above 30.53 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 (29.56) occupy the agenda.  Support: 30.00 – 29.80 Resistance: 30.37 – 30.48