USDTRY

The USD/TRY pair is experiencing a volatile trend influenced by notable developments in global markets. Uncertainties regarding trade policies under the Trump administration in the US and the expectation that the Fed might slow its pace of interest rate cuts are negatively affecting risk appetite. During this process, the weak performance of many emerging market currencies against the dollar has supported the Turkish Lira in remaining relatively strong against the dollar. Additionally, expectations regarding the inflation data for October to be released in the US are highlighted as one of the factors the markets are closely monitoring.

Technically, the USD/TRY pair is testing the 34.39 resistance level on the hourly chart, and if sustainability is achieved above this level, movement towards the 34.45 and 34.53 levels could be observed. In downward movements, the levels of 34.29, 34.22, and 34.16 are monitored as support. The RSI indicator is at 61, showing a positive outlook. The pair has recorded a 0.14% increase compared to the previous day, indicating a tendency to maintain the current momentum.