USD/TRY may rise 1069 - 1571 pips

Our pivot point stands at 32.9588.

Our preference

The upside prevails as long as 32.9588 is support.

Alternative scenario

Below 32.9588, expect 32.8746 and 32.8245.

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 trading above both its 20 and 50 period moving average (respectively at 33.0464 and 33.0308). Finally, the USD/TRY is trading above its upper Bollinger band (standing at 33.0731).

Supports and resistances

33.3406 **

33.2903 *

33.2401 **

33.1899

33.0830 last

32.9919

32.9588 **

32.8746 *

32.8245 **

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