USD/TRY may rise 1347 - 1986 pips

Our pivot point stands at 32.7623.

Our preference

As long as 32.7623 is support look for 33.1035.

Alternative scenario

The downside breakout of 32.7623 would call for 32.6552 and 32.5915.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 32.8969 and 32.8759).

Supports and resistances

33.2313 **

33.1674 *

33.1035 **

33.0396

32.9049 last

32.8044

32.7623 **

32.6552 *

32.5915 **

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