USD/TRY may rise 1369 - 2022 pips

Our pivot point stands at 32.4741.

Our preference

The upside prevails as long as 32.4741 is support.

Alternative scenario

The downside breakout of 32.4741 would call for 32.3648 and 32.2998.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 32.6541 and 32.6525).

Supports and resistances

33.0307 **

32.9654 *

32.9000 **

32.8347

32.6978 last

32.5171

32.4741 **

32.3648 *

32.2998 **

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