USD/TRY may rise 1025 - 1524 pips

Our pivot point is at 32.7910.

Our preference

Our next up target stands at 33.0114.

Alternative scenario

Below 32.7910, expect 32.7072 and 32.6573.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the price is above its 20 and 50 period moving average (respectively at 32.8231 and 32.8550). Finally, the USD/TRY has crossed above its upper Bollinger band (32.8521).

Supports and resistances

33.1111 **

33.0613 *

33.0114 **

32.9615

32.8590 last

32.8239

32.7910 **

32.7072 *

32.6573 **

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