When we look at the big picture for the month of April for EUR/USD parity, the fluctuating process has been continuing. The starting point was at 3.87 level at the beginning of the month and the parity reached 3.97 level on April 6 which was the highest point of the month. With the beginning of second part of April, the parity started to give some recovery signals and reached the 3.90 level. We can say there are some psychological levels of EUR / TRY parity, especially for the Turkish side. After the “yes” result of the referendum, the uncertainties of Turkish economy are decreasing.
Due to the diminishing uncertainties following the referendum, the value gain in the Turkish lira brought the 3.90 level in the EUR/TRY parity to the agenda. As The Supreme Committee of Elections of the Republic of Turkey rejects the objections to the referendum election, we see the downward pressure on the number of TL assets due to the increase in the value of the TL increase. In addition, Turkey's consumer confidence supported over expectations of the positive stance in the TL. At the last days of the month, the Euro Zone PMI figure, which is an important data in terms of parity, will be followed.
If we look at the technique technically, the protection of the view above 3.90 level is important in terms of the limited downfall. Continuation of Ascensions In the first stage, 3.9350 resistance will be the front panel, while 3.9520 resistance level above this level can be observed. In the case of any pricing that may occur below 3.90, 3.88 support can be followed.
- Date: 30 April 2017 Sun 10:59
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