16.03.2020 USDTRY Analysis

16.03.2020 USDTRY Analysis On the fourth trading day of the week, while weak data flow continued in the country, the PPI in the USA was followed by a decrease of 0.6 percent in February. In the last trading day of the week, domestic production in the country decreased by 0.2 percent on a monthly basis in January and increased by 7.9 percent annually. Retail sales data increased by 9.6 percent year-on-year in January. During the day, consumer confidence at the University of Michigan in the US fell from 101 to 95.9 in March. While the effects of the virus being spread in global markets, Health Minister Fahrettin Koca announced that the number of cases in Turkey rose to 18. At the end of the day, it was observed that the exchange continued its upward movement with the announced data and developments. Technically, it was observed that the Dollar continued to be determinant at 6.32 level. If the trend in the currency continues with the upward movement along with the future purchases, 6.35, 6.38 and 6.42 levels are important resistance levels to follow. 6.28, 6.25 and 6.22 support levels can be followed in the downward movement of the potential sales and the downward trend in the exchange rate. [mstock id = "1597"]