USD/TRY Price Analysis: $13.68 appears tough nut to crack for sellers

USD/TRY remains pressured around intraday low, prints three-day downtrend.
50-SMA, 61.8% Fibonacci retracement limits immediate declines but bearish MACD hints at further weakness.
Three-day-old resistance line restricts recovery moves ahead of February’s top.

Anil Panchal FXStreet

USD/TRY prints mild intraday losses around $13.80, down 0.20% on a day while heading into Tuesday’s European session.

That said, the bearish MACD signals and sustained trading below a 50% Fibonacci retracement (Fibo.) level of January-February upside keep sellers hopeful to conquer the immediate support near $13.80, comprising 50-SMA and 61.8% Fibo.

Even son a convergence of the 100-SMA and an upward sloping trend line from late January becomes strong support to challenge USD/TRY bears around $13.68.

Should the quote drops below $13.68, a downward trajectory towards $13.55 and February’s low near $13.28 can’t be ruled out.

Meanwhile, recovery moves may initially aim for the 50% Fibonacci retracement level of $13.97 before challenging the falling trend line from Thursday, near $14.03.

In a case where USD/TRY bulls cross the $14.03 hurdle, a gradual run-up towards February’s peak of $14.66 can’t be ruled out.

USD/TRY: Four-hour chart

Trend: Further weakness expected

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

GBP/USD appears well offered near 1.3160

GBP/USD builds on Tuesday’s losses, although it now manages to pick up some pace and bounce off earlier multi-month troughs near 1.3140. The Greenback’s solid performance and continued political turmoil in the UK are keeping Cable under persistent pressure, with little sign of a meaningful recovery.

EUR/USD rebounds from lows, back to 1.1360

After bottoming out near 1.1320, EUR/USD gathers some traction and reclaims the 1.1350-1.1360 band as the NA session draws to a close on Wednesday. The pair’s drop to multi-month lows comes in response to the continuous leg higher in the US Dollar, which remains propped up by hawkish Fed expectations and uncertainty over the outcome of US-Iran peace negotiations.

Gold pressured near fresh 2026 lows

Gold accelerates its decline and gyrates around the key $4,000 mark per troy ounce on Wednesday, its lowest level since November 2025. In the meantime, tighter-for-longer Fed expectations and a broadly firmer US Dollar continue to weigh on the yellow metal, while uncertainty surrounding a potential US-Iran peace agreement has done little to revive demand for the safe haven space.

XRP nears key support as Fed hike risks suppress demand

Ripple (XRP) continues to face significant selling pressure, trading around $1.05 at the time of writing on Wednesday. This decline mirrors the broader weakness in the crypto market, exacerbated by mounting macroeconomic headwinds and persistent geopolitical uncertainties.

US-Iran talks: The next 60 days will decide where Oil prices go next

Oil markets received some encouraging news after weeks of rising tensions in the Middle East. But let’s not get ahead of ourselves: we’re far from victory, and markets just seem to have priced out the worst-case scenario. The US and Iran have reportedly made "substantive progress" in talks in Switzerland and agreed on a framework for working toward a broader deal within 60 days.

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.