EUR/TRY may rise to 36.2641 - 36.8164

Our pivot point stands at 34.2409.

Our preference

The upside prevails as long as 34.2409 is support.

Alternative scenario

The downside breakout of 34.2409 would call for 33.3182 and 32.7690.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 35.0226 and 34.8508).

Supports and resistances

37.9210 **

37.3687 *

36.8164 **

36.2641

35.1164 last

34.6034

34.2409 **

33.3182 *

32.7690 **

Number of asterisks represents the strength of support and resistance levels.