Euro Stalls Near ₺56.0844 Resistance Amid Weak Credit Growth

The Euro to Turkish Lira (EUR/TRY) exchange rate has stalled near ₺56.0844 resistance, according to recent data from the Traders Union.

On July 2026, the European Central Bank published its monetary developments data, which showed that total claims on euro area residents increased by 2.4% year on year.

This indicates ongoing credit expansion in the region, but with a twist: private sector claims grew by 3.5%, while claims on general government declined by 0.5%. This divergence suggests that lending activity is becoming increasingly selective.

Technically, EUR/TRY is trading below its MA-20 and MA-50 on the hourly chart, but remains above the MA-200 on the daily chart.