USD/TRY may rise 1238 - 1675 pips

Our pivot point stands at 33.4419.

Our preference

The upside prevails as long as 33.4419 is support.

Alternative scenario

The downside breakout of 33.4419 would call for 33.3686 and 33.3250.

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 above its 20 and 50 period moving average (respectively at 33.5165 and 33.5255).

Supports and resistances

33.8014 **

33.7576 *

33.7139 **

33.6702

33.5464 last

33.4707

33.4419 **

33.3686 *

33.3250 **

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