USD/TRY may rise 1309 - 1948 pips

Our pivot point stands at 32.8491.

Our preference

As long as 32.8491 is support look for 33.1339.

Alternative scenario

The downside breakout of 32.8491 would call for 32.7417 and 32.6778.

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 trading above both its 20 and 50 period moving average (respectively at 32.9165 and 32.8805).

Supports and resistances

33.2618 **

33.1978 *

33.1339 **

33.0700

32.9391 last

32.8913

32.8491 **

32.7417 *

32.6778 **

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