USD/TRY may rise 1605 - 2291 pips

Our pivot point stands at 32.7118.

Our preference

Rebound.

Alternative scenario

Below 32.7118, expect 32.5970 and 32.5287.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the price is trading above its 20 period moving average (32.9021) but under its 50 period moving average (32.9308).

Supports and resistances

33.2909 **

33.2222 *

33.1536 **

33.0850

32.9245 last

32.7569

32.7118 **

32.5970 *

32.5287 **

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