USD/TRY may rise 1043 - 1543 pips

32.8690 is our pivot point.

Our preference

The upside prevails as long as 32.8690 is support.

Alternative scenario

The downside breakout of 32.8690 would call for 32.7850 and 32.7350.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 32.9039 and 32.9227).

Supports and resistances

33.1893 **

33.1393 *

33.0893 **

33.0393

32.9350 last

32.9020

32.8690 **

32.7850 *

32.7350 **

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