USD/TRY may rise 925 - 1338 pips

Our pivot point stands at 33.4763.

Our preference

The upside prevails as long as 33.4763 is support.

Alternative scenario

The downside breakout of 33.4763 would call for 33.4070 and 33.3657.

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 33.5240 and 33.5295).

Supports and resistances

33.7715 **

33.7302 *

33.6890 **

33.6477

33.5552 last

33.5035

33.4763 **

33.4070 *

33.3657 **

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