USD/TRY may rise 1038 - 1537 pips

32.6894 is our pivot point.

Our preference

The upside prevails as long as 32.6894 is support.

Alternative scenario

The downside breakout of 32.6894 would call for 32.6058 and 32.5561.

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 32.8305 and 32.8506).

Supports and resistances

33.1134 **

33.0635 *

33.0137 **

32.9638

32.8600 last

32.7222

32.6894 **

32.6058 *

32.5561 **

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