USD/TRY may rise 1350 - 2004 pips

Our pivot point is at 32.5704.

Our preference

The upside prevails as long as 32.5704 is support.

Alternative scenario

The downside breakout of 32.5704 would call for 32.4607 and 32.3955.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 32.6469 and 32.6515).

Supports and resistances

33.0361 **

32.9707 *

32.9054 **

32.8400

32.7050 last

32.6134

32.5704 **

32.4607 *

32.3955 **

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