USDTRY

The USD/TRY pair is moving in line with the performance of emerging market currencies against the US Dollar. While the Turkish Lira is among the currencies showing weak performance, the pair is trading close to the 35.65 level. The positive trend in Asian indices in global markets and expectations regarding rate cuts by the Central Bank of the Republic of Turkey (CBRT) may influence the trajectory of the pair. Unless there is significant TL-based news flow domestically, the USD/TRY is expected to move in line with general market dynamics.

Technically, the USD/TRY pair is trading within a band between 35.45 and 35.81 in the short term. As long as it stays above the 35.45 support, upward movements could gain momentum towards the resistance levels of 35.70, 35.75, and 35.81. The RSI indicator is moving at neutral levels. The intraday movement of the pair shows a change of about 0.04%. A sustained move above the 35.81 resistance could strengthen the upward trend of the pair; otherwise, a consolidation between 35.45 - 35.81 could be observed.