USD/TRY may rise 1458 - 2147 pips

Our pivot point stands at 32.9933.

Our preference

As long as 32.9933 is support look for 33.3044.

Alternative scenario

The downside breakout of 32.9933 would call for 32.8775 and 32.8086.

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 below its 20 period moving average (33.0909) but above its 50 period moving average (33.0833).

Supports and resistances

33.4423 **

33.3734 *

33.3044 **

33.2355

33.0897 last

33.0388

32.9933 **

32.8775 *

32.8086 **

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