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:

  1. Currency Movement: The US Dollar saw an upward trend against the Turkish Lira, surpassing the 32.200 level during Asian trading.
  2. 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.
  3. USDTRY Pair Strength: The PPI data’s positive outcome provided support to the US Dollar, resulting in a stronger USDTRY pair.

Technical analysis

Dollar - Turkish Lira Analysis Technical analysis 15/03/2024

USDTRY Support & Resistance Table – 15/03/2024

Support & ResistanceLevelExplanation
Resistance 232.2823Daily R2
Resistance 132.2502Daily R1
Support 132.1644Daily S1
Support 232.1323Daily S2

USDTRY Indicator Table – 15/03/2024

SMA 20Buy
SMA 50Buy
SMA 100Buy
MACD( 12;26;9)Buy
RSI (14)Buy
Stochastic ( 9;6;3)Buy

USDTRY Indicator / Period Table – 15/03/2024

Indicator / PeriodDay – BuyWeek – BuyMonth – Buy
MACD( 12;26;9)BuyBuyBuy
RSI (14)BuySellSell
SMA 20BuyBuyBuy

USDTRY 15/03/2024 – Reference Price : 32.2073

BUYSimple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (3)Sell (0)

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