USD/TRY may rise 1323 - 1965 pips

Our pivot point is at 32.9466.

Our preference

As long as 32.9466 is support look for 33.2543.

Alternative scenario

The downside breakout of 32.9466 would call for 32.8389 and 32.7748.

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 33.0547 and 33.0415).

Supports and resistances

33.3826 **

33.3185 *

33.2543 **

33.1901

33.0578 last

32.9889

32.9466 **

32.8389 *

32.7748 **

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