USDTRY

The USD/TRY pair is moving in line with the strengthening of the US dollar in global markets. The mixed trend in Asian markets and US inflation data aligning with expectations increase the likelihood of a rate hike by the Fed at the December meeting. This situation supports the rise in the dollar index. Although the Turkish Lira shows a strong outlook compared to other emerging market currencies, it generally remains weak.

Technically, the USD/TRY pair is trading near the 34.34 level. For the pair, the 34.29, 34.22, and 34.16 levels are being monitored as support points, while the 34.39, 34.45, and 34.52 levels are being followed as resistance levels. The RSI indicator shows a neutral trend and the pair may tend to consolidate between 34.52 – 34.16 for a while. The pair, which has not shown much change compared to the previous day, may continue its upward movement by maintaining above the 34.52 resistance if it remains in a positive trend. However, in the absence of significant TL-based news flow, no significant change in the current trend is expected.