Likelihood of rise in price of Turkish lira should be kept in spotlight

Business Materials 30 October 2018 09:37 (UTC +04:00)

Baku, Azerbaijan, Oct. 30

By Taleh Mursagulov – Trend:

The probability of increase in USD / TRY exchange rate should be kept in the spotlight, the daily summary of the InvestAz investment company reads.

The company's analysts noted that there is a downtrend on the USD / TRY hourly chart, and when the USD / TRY level of 5.5951 is reached in the downward direction, the following targets for decline will be TL 5.5174 and TL 5.4310.

In the alternative scenario, the analysts said, if the TL level of 5.6589 is reached in the upstream direction, the Turkish lira can cheapen relative to the US dollar to the level of TL 5.7352 and TL 5.8726.