USDTRY

In an environment where currencies of emerging markets are weak against the US Dollar, the USD/TRY parity continues to show a relatively strong position for the Turkish Lira compared to other currencies. While the weakness of the Chinese Yuan and the strength of the Mexican Peso draw market attention, the TL gains 0.07%, painting a positive picture. In Asian markets, the pressure caused by Chinese inflation data falling below expectations and Beijing's inadequate stimulus measures are monitored closely in global markets. On the US side, inflation data to be released this week and speeches by Fed officials may lead to new pricing movements in the markets.

Technically, USD/TRY is trading near the 34.36 level. On the chart, the levels of 34.3, 34.22, and 34.16 are monitored as support, while the levels of 34.39, 34.45, and 34.51 stand out as resistance in upward movements. The parity can display positive momentum as long as it remains above the 34.16 level. The RSI indicator is in a neutral state, indicating an indecisive market condition. The 0.07% increase compared to the previous day suggests that possible resistance areas could be tested during the day. However, unless there is significant TL-based news flow, the parity is expected to continue to trend within a narrow range.