USD/TRY may rise 1547 - 2200 pips

Our pivot point is at 32.5076.

Our preference

Rebound.

Alternative scenario

Below 32.5076, expect 32.3982 and 32.3331.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the price is trading above its 20 period moving average (32.6191) but under its 50 period moving average (32.6527).

Supports and resistances

32.9835 **

32.9182 *

32.8530 **

32.7877

32.6330 last

32.5506

32.5076 **

32.3982 *

32.3331 **

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