USDTRY

The USD/TRY pair draws attention with the varied performances of emerging market currencies against the US Dollar. The Turkish Lira ranks among the weakest currencies in the morning hours, with the USD/TRY rate trading near the 35.35 level. Due to the pullback in Asian market indices and the closure of US markets, a calm trend is observed in global markets. However, speeches by Fed officials and anticipated US employment data may continue to impact the markets.

From a technical perspective, the USD/TRY pair is monitored on hourly charts. While the rate finds support at the levels of 35.28, 35.22, and 35.16, resistance levels are observed at 35.40, 35.46, and 35.52 during upward movements. The persistence above the lower point of the Envelope indicator at 35.16 could support the upward movement. The pair’s RSI indicator is at the level of 63, showing a positive outlook. An increase of 0.08% compared to the previous day is observed, indicating that the upward momentum is sustained.