In the recent trading session in Asia, the US Dollar experienced an uptick against the Turkish Lira, positioning itself beyond the 31.900 mark. This movement underscores the ongoing volatility in the forex market, particularly in the exchange dynamics between these two currencies.
Today’s economic docket for Turkey remains sparse, with no major data releases on the horizon that could directly impact the Lira’s trajectory. Meanwhile, the spotlight shifts towards the United States, where pivotal labor market data, including the Nonfarm Payrolls and Unemployment Rate figures, are anticipated. These indicators are critical, as they offer insights into the economic health of the U.S. and hold the potential to sway global currency valuations, including the USD/TRY pair.
Technical analysis
Time Frame: 1 hour
USDTRY Support & Resistance Table – 05/04/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 32.2411 | Daily R2 |
| Resistance 1 | 32.1201 | Daily R1 |
| Support 1 | 31.7975 | Daily S1 |
| Support 2 | 31.6765 | Daily S2 |
USDTRY Indicator Table – 05/04/2024
| Indicator | Signal |
| SMA 20 | Sell |
| SMA 50 | Sell |
| SMA 100 | Sell |
| MACD( 12;26;9) | Sell |
| RSI (14) | Sell |
| Stochastic ( 9;6;3) | Buy |
USDTRY Indicator / Period Table – 05/04/2024
| Indicator / Period | Day – Sell | Week – Buy | Month – Buy |
| MACD( 12;26;9) | Sell | Buy | Buy |
| RSI (14) | Sell | Sell | Sell |
| SMA 20 | Sell | Buy | Buy |
USDTRY 05/04/2024 – Reference Price : 31.9118
| SELL | Simple Moving AverageBuy (0)Sell (3)Technical Indicators – OscillatorsBuy (1)Sell (2) |
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