USD/TRY may rise 902 - 1339 pips

Our pivot point stands at 33.4504.

Our preference

The upside prevails as long as 33.4504 is support.

Alternative scenario

The downside breakout of 33.4504 would call for 33.3771 and 33.3335.

Comment

The RSI is above its neutrality area at 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 33.5132 and 33.4942).

Supports and resistances

33.7483 **

33.7047 *

33.6610 **

33.6173

33.5271 last

33.4792

33.4504 **

33.3771 *

33.3335 **

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