USD/TRY may rise 1596 - 2235 pips

Our pivot point stands at 32.7605.

Our preference

As long as 32.7605 is support look for 33.1070.

Alternative scenario

Below 32.7605, expect 32.6534 and 32.5896.

Comment

The RSI is above its neutrality area at 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 32.8719 and 32.8424).

Supports and resistances

33.2347 **

33.1708 *

33.1070 **

33.0431

32.8835 last

32.8025

32.7605 **

32.6534 *

32.5896 **

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