USD/TRY may rise to 33.6300 - 34.0830

Our pivot point is at 31.9434.

Our preference

As long as 31.9434 is support look for 34.0830.

Alternative scenario

The downside breakout of 31.9434 would call for 31.1867 and 30.7362.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 32.5989 and 32.4095).

Supports and resistances

34.9891 **

34.5361 *

34.0830 **

33.6300

32.7019 last

32.2407

31.9434 **

31.1867 *

30.7362 **

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