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

Dollar - Turkish Lira Analysis Technical analysis 05/04/2024

Time Frame: 1 hour

USDTRY Support & Resistance Table – 05/04/2024

Support & ResistanceLevelExplanation
Resistance 232.2411Daily R2
Resistance 132.1201Daily R1
Support 131.7975Daily S1
Support 231.6765Daily S2

USDTRY Indicator Table – 05/04/2024

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

USDTRY Indicator / Period Table – 05/04/2024

Indicator / PeriodDay – SellWeek – BuyMonth – Buy
MACD( 12;26;9)SellBuyBuy
RSI (14)SellSellSell
SMA 20SellBuyBuy

USDTRY 05/04/2024 – Reference Price : 31.9118

SELLSimple Moving AverageBuy (0)Sell (3)Technical Indicators – OscillatorsBuy (1)Sell (2)

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