In today’s Asian trading session, the US Dollar experienced a slight depreciation against the Turkish Lira, positioning itself just under the 32.300 mark. This movement reflects a quieter trading environment, as there are no significant economic announcements scheduled today from either Turkey or the United States that might typically influence fluctuations in this currency pair.
The stability of the Turkish Lira in the absence of domestic economic data suggests that traders might be adopting a wait-and-see approach, possibly in anticipation of broader global economic cues. Similarly, the lack of pivotal data from the U.S. also contributes to a subdued trading atmosphere for the pair.
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Technical analysis
Time Frame: 1 hour
USDTRY Support & Resistance Table – 17/05/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 32.3927 | Daily R2 |
| Resistance 1 | 32.3405 | Daily R1 |
| Support 1 | 32.2013 | Daily S1 |
| Support 2 | 32.1491 | Daily S2 |
USDTRY Indicator Table – 17/05/2024
| Indicator | Signal |
| SMA 20 | Buy |
| SMA 50 | Buy |
| SMA 100 | Sell |
| MACD( 12;26;9) | Neutral |
| RSI (14) | Buy |
| Stochastic ( 9;6;3) | Sell |
USDTRY Indicator / Period Table – 17/05/2024
| Indicator / Period | Day – Buy | Week – Buy | Month – Buy |
| MACD( 12;26;9) | Neutral | Buy | Buy |
| RSI (14) | Buy | Sell | Sell |
| SMA 20 | Buy | Buy | Buy |
USDTRY 17/05/2024 – Reference Price : 32.2764
| BUY | Simple Moving AverageBuy (2)Sell (1)Technical Indicators – OscillatorsBuy (1)Sell (1) |
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