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
Time Frame: 1 hour
USDTRY Support & Resistance Table – 16/05/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 32.2206 | Daily R2 |
| Resistance 1 | 32.1616 | Daily R1 |
| Support 1 | 32.0042 | Daily S1 |
| Support 2 | 31.9452 | Daily S2 |
USDTRY Indicator Table – 16/05/2024
| 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 – 16/05/2024
| 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 16/05/2024 – Reference Price : 32.0839
| SELL | Simple Moving AverageBuy (0)Sell (3)Technical Indicators – OscillatorsBuy (1)Sell (2) |
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