USD/TRY may rise 1159 - 1661 pips

Our pivot point is at 32.8989.

Our preference

The upside prevails as long as 32.8989 is support.

Alternative scenario

The downside breakout of 32.8989 would call for 32.8149 and 32.7648.

Comment

The RSI is above 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 32.9916 and 32.8954).

Supports and resistances

33.3310 **

33.2808 *

33.2305 **

33.1803

33.0644 last

32.9320

32.8989 **

32.8149 *

32.7648 **

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