USD/TRY may rise 1360 - 1999 pips

32.8370 is our pivot point.

Our preference

As long as 32.8370 is support look for 33.1339.

Alternative scenario

The downside breakout of 32.8370 would call for 32.7296 and 32.6657.

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 32.9162 and 32.8804).

Supports and resistances

33.2618 **

33.1978 *

33.1339 **

33.0700

32.9340 last

32.8791

32.8370 **

32.7296 *

32.6657 **

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