USD/TRY may rise 1299 - 1940 pips

32.8426 is our pivot point.

Our preference

As long as 32.8426 is support look for 33.2208.

Alternative scenario

Below 32.8426, expect 32.7353 and 32.6714.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 32.9866 and 32.9094).

Supports and resistances

33.3490 **

33.2849 *

33.2208 **

33.1567

33.0268 last

32.8848

32.8426 **

32.7353 *

32.6714 **

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