USDTRY

The Turkish Lira continues to show weak performance among emerging market currencies. Particularly diverging negatively alongside currencies like the Philippine Peso and Peruvian Sol, the TL stands out with a 0.11% loss against the USD. In addition to the mixed trend in Asian markets, the increase in geopolitical risks and the expectation that interest rates in the US may remain high for a long time are also boosting demand for the dollar. Under these conditions, the USD/TRY pair is trading at the 34.51 level, and the weak outlook of the TL is leading to upward pressure on the pair.

Technically, the USD/TRY pair may continue its upward movements by staying above the 34.31 support. It is likely to target the 34.57 and 34.66 resistance levels. In particular, maintaining stability above the 34.66 level could further strengthen the current trend. Otherwise, the pair may show a tendency to consolidate between the 34.31 and 34.66 levels. The RSI indicator is displaying a positive outlook at the 59 level. A 0.16% increase in the USD/TRY pair is observed compared to the previous day.