USD/TRY may rise 1581 - 2223 pips

Our pivot point is at 32.4931.

Our preference

Rebound.

Alternative scenario

The downside breakout of 32.4931 would call for 32.3856 and 32.3216.

Comment

The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the price stands above its 20 period moving average (32.6199) but below its 50 period moving average (32.6519).

Supports and resistances

32.9839 **

32.9197 *

32.8555 **

32.7913

32.6332 last

32.5354

32.4931 **

32.3856 *

32.3216 **

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