USD/TRY may rise 1413 - 2065 pips

Our pivot point stands at 32.4989.

Our preference

As long as 32.4989 is support look for 32.8176.

Alternative scenario

The downside breakout of 32.4989 would call for 32.3895 and 32.3244.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 32.6048 and 32.5734).

Supports and resistances

32.9479 **

32.8827 *

32.8176 **

32.7524

32.6111 last

32.5418

32.4989 **

32.3895 *

32.3244 **

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