USDTRY

The USD/TRY exchange rate is trading near the 34.27 level due to the Turkish Lira's continued weakness, despite the volatile performance of emerging market currencies. The interest rate cut decision by the People's Bank of China has had mixed effects on Asian markets, and the political tensions in the Middle East are creating uncertainty in the markets, affecting global risk appetite. In such a context, the relatively weak stance of the Turkish Lira against the US Dollar may support the upward trend in the USD/TRY rate.

From a technical standpoint, the USD/TRY pair finds support at the levels of 34.23, 34.16, and 34.09, while resistance levels of 34.30, 34.35, and 34.40 may be observed on upward movements. The graph indicates that the pair is being monitored on an hourly timeframe. The RSI indicator is at the 60 level, displaying a positive trend, which may support the upward movement of the pair. A 0.17% increase is observed today compared to the previous day. If the pair surpasses the indicated resistance levels, the upward movement is expected to continue.