USD/TRY may rise 902 - 1314 pips

Our pivot point is at 33.5010.

Our preference

The upside prevails as long as 33.5010 is support.

Alternative scenario

Below 33.5010, expect 33.4317 and 33.3904.

Comment

The RSI is above 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 33.5065 and 33.5305). Finally, the USD/TRY is trading above its upper Bollinger band (standing at 33.5546).

Supports and resistances

33.7700 **

33.7287 *

33.6874 **

33.6462

33.5560 last

33.5283

33.5010 **

33.4317 *

33.3904 **

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