In the Asian trading session, the US Dollar made gains against the Turkish Lira, reaching above the 32.200 level. This movement in the currency pair was influenced by various factors affecting both the U.S. and Turkish economies.
Today, Turkey is not anticipated to release any significant economic data, leaving the focus primarily on external factors influencing the currency’s performance. On the other hand, the United States released its Producer Price Index (PPI) data, which surpassed expectations. This positive outcome bolstered the US Dollar, thereby strengthening the USDTRY pair.
Key Insights:
- Currency Movement: The US Dollar saw an upward trend against the Turkish Lira, surpassing the 32.200 level during Asian trading.
- Economic Data Impact: While no major economic reports are anticipated from Turkey, the release of the U.S. Producer Price Index data had a notable impact on the currency pair.
- USDTRY Pair Strength: The PPI data’s positive outcome provided support to the US Dollar, resulting in a stronger USDTRY pair.
Technical analysis
USDTRY Support & Resistance Table – 15/03/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 32.2823 | Daily R2 |
| Resistance 1 | 32.2502 | Daily R1 |
| Support 1 | 32.1644 | Daily S1 |
| Support 2 | 32.1323 | Daily S2 |
USDTRY Indicator Table – 15/03/2024
| Indicator | Signal |
| SMA 20 | Buy |
| SMA 50 | Buy |
| SMA 100 | Buy |
| MACD( 12;26;9) | Buy |
| RSI (14) | Buy |
| Stochastic ( 9;6;3) | Buy |
USDTRY Indicator / Period Table – 15/03/2024
| Indicator / Period | Day – Buy | Week – Buy | Month – Buy |
| MACD( 12;26;9) | Buy | Buy | Buy |
| RSI (14) | Buy | Sell | Sell |
| SMA 20 | Buy | Buy | Buy |
USDTRY 15/03/2024 – Reference Price : 32.2073
| BUY | Simple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (3)Sell (0) |
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