USD/TRY may rise 1427 - 2116 pips

Our pivot point stands at 32.8674.

Our preference

The upside prevails as long as 32.8674 is support.

Alternative scenario

Below 32.8674, expect 32.7520 and 32.6834.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 33.0740 and 33.0638).

Supports and resistances

33.4392 **

33.3703 *

33.3013 **

33.2324

33.0897 last

32.9127

32.8674 **

32.7520 *

32.6834 **

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