USD/TRY may rise 919 - 1357 pips

Our pivot point is at 33.5073.

Our preference

The upside prevails as long as 33.5073 is support.

Alternative scenario

The downside breakout of 33.5073 would call for 33.4339 and 33.3902.

Comment

The RSI is above 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 33.5333 and 33.5078). Finally, the USD/TRY is trading above its upper Bollinger band (standing at 33.5667).

Supports and resistances

33.7900 **

33.7463 *

33.7026 **

33.6588

33.5669 last

33.5362

33.5073 **

33.4339 *

33.3902 **

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