USD/TRY may rise 1383 - 2072 pips

Our pivot point is at 33.0023.

Our preference

The upside prevails as long as 33.0023 is support.

Alternative scenario

The downside breakout of 33.0023 would call for 32.8865 and 32.8176.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 33.0804 and 33.0787).

Supports and resistances

33.4475 **

33.3786 *

33.3096 **

33.2407

33.1024 last

33.0478

33.0023 **

32.8865 *

32.8176 **

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