USD/TRY may rise 1270 - 1900 pips

Our pivot point stands at 32.9213.

Our preference

The upside prevails as long as 32.9213 is support.

Alternative scenario

Below 32.9213, expect 32.8159 and 32.7533.

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 33.1258 and 33.0992).

Supports and resistances

33.4640 **

33.4010 *

33.3381 **

33.2751

33.1481 last

32.9626

32.9213 **

32.8159 *

32.7533 **

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