USD/TRY may rise 1296 - 1926 pips

32.9402 is our pivot point.

Our preference

As long as 32.9402 is support look for 33.3511.

Alternative scenario

The downside breakout of 32.9402 would call for 32.8348 and 32.7721.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (33.1714) but above its 50 period moving average (33.1279).

Supports and resistances

33.4770 **

33.4140 *

33.3511 **

33.2881

33.1585 last

32.9816

32.9402 **

32.8348 *

32.7721 **

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