USD/TRY may rise 844 - 1205 pips

32.0566 is our pivot point.

Our preference

The upside prevails as long as 32.0566 is support.

Alternative scenario

The downside breakout of 32.0566 would call for 31.9962 and 31.9602.

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 32.2317 and 32.2147).

Supports and resistances

32.4360 **

32.3999 *

32.3637 **

32.3276

32.2432 last

32.0803

32.0566 **

31.9962 *

31.9602 **

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