In today’s Asian trading session, the U.S. Dollar appreciated significantly, breaching the 32.400 level against the Turkish Lira. This upward movement comes on a day when Turkey has no major economic announcements scheduled, shifting the focus of forex market participants towards forthcoming economic data from the United States, particularly the Retail Sales figures.

The U.S. Retail Sales data, a key economic indicator, is highly anticipated as it provides valuable insights into consumer spending patterns, which are fundamental to assessing the overall health of the U.S. economy. A strong report could bolster the U.S. Dollar further by reinforcing perceptions of a robust economic environment, potentially influencing Federal Reserve policy decisions regarding interest rates.

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As market participants await the U.S. Retail Sales data, the movement of the U.S. Dollar against the Turkish Lira and other currencies will likely be influenced by the outcomes of this report. Traders and investors are advised to stay vigilant, utilizing advanced tools like AI to navigate potential market volatility and capitalize on opportunities presented by real-time economic developments.

Technical analysis

Dollar - Turkish Lira Analysis Technical analysis 15/04/2024

Time Frame: 1 hour

USDTRY Support & Resistance Table – 15/04/2024

Support & ResistanceLevelExplanation
Resistance 232.5891Daily R2
Resistance 132.5078Daily R1
Support 132.2910Daily S1
Support 232.2097Daily S2

USDTRY Indicator Table – 15/04/2024

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

USDTRY Indicator / Period Table – 15/04/2024

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

USDTRY 15/04/2024 – Reference Price : 32.3822

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

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