USDTRY

On a day when developing country currencies showed limited change against the US Dollar, the Brazilian Real stood out as the strongest and the Korean Won as the weakest. The Turkish Lira also showed limited strength, with the USD/TRY exchange rate trading around 33.50. In the short term, the 33.01 – 33.08 region is seen as an important support area for the USD/TRY exchange rate. As long as the exchange rate remains above this region, it may continue to rise towards the levels of 33.53, 33.60 and 33.68. In particular, permanent movements above the 33.60 level may strengthen the upward trend. Otherwise, reaction sales may be seen. However, as long as there is no strong news flow based on TL, the general expectation will remain positive. In order for this scenario to be considered invalid, it must fall below the 33.01 – 33.08 region and exhibit a permanent movement. Support: 33.45 – 33.38 Resistance: 33.53 – 33.60