USD/TRY may rise 1006 - 1443 pips

33.4220 is our pivot point.

Our preference

The upside prevails as long as 33.4220 is support.

Alternative scenario

The downside breakout of 33.4220 would call for 33.3487 and 33.3051.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 33.5064 and 33.5026).

Supports and resistances

33.7386 **

33.6949 *

33.6513 **

33.6076

33.5070 last

33.4507

33.4220 **

33.3487 *

33.3051 **

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