EUR/TRY may rise 1764 - 2568 pips

35.3115 is our pivot point.

Our preference

The upside prevails as long as 35.3115 is support.

Alternative scenario

The downside breakout of 35.3115 would call for 35.1766 and 35.0963.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 35.3756 and 35.3903).

Supports and resistances

35.8819 **

35.8015 *

35.7210 **

35.6406

35.4642 last

35.3645

35.3115 **

35.1766 *

35.0963 **

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