Turkish lira may continue strengthening against US dollar

Finance Materials 30 November 2018 19:58 (UTC +04:00)

Baku, Azerbaijan, Nov. 30

By Taleh Mursagulov - Trend:

Turkish lira may strengthen against the US dollar to 4.98 TRY, reads a daily report by the Azerbaijani investment company InvestAZ.

The company’s analysts note that there is a downtrend on the USD/TRY hourly chart.

InvestAZ believes that if the USD/TRY rate remains below the level of 5.1807, the subsequent strengthening of the Turkish lira against the US dollar to 5.059 and 4.9844 liras is possible.

Alternatively, in case if the Turkish lira breaks through the level of 5.2261 in the upward direction, the USD/TRY rate may reach 5.297 and 5.3402 liras.

As of 19:10 (GMT+4), the USD/TRY rate was 5.1998.


Follow the author on Twitter: @TalehMursagulov