In today’s Asian trading session, the US Dollar saw a modest increase against the Turkish Lira, positioning itself above the 32.100 mark. This subtle rise reflects ongoing market evaluations in anticipation of new economic data releases.

On the Turkish front, there are no significant economic announcements expected today, leaving traders to focus on external influences for market direction. Meanwhile, in the United States, the financial community is keenly awaiting the release of Initial Jobless Claims data. This indicator is pivotal as it provides insights into the employment health of the economy, which can significantly influence currency valuations.

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Technical analysis

Dollar - Turkish Lira Analysis Technical analysis 16/05/2024

Time Frame: 1 hour

USDTRY Support & Resistance Table – 16/05/2024

Support & ResistanceLevelExplanation
Resistance 232.2206Daily R2
Resistance 132.1616Daily R1
Support 132.0042Daily S1
Support 231.9452Daily S2

USDTRY Indicator Table – 16/05/2024

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

USDTRY Indicator / Period Table – 16/05/2024

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

USDTRY 16/05/2024 – Reference Price : 32.0839

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

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