USD/TRY may rise 835 - 1248 pips

33.3518 is our pivot point.

Our preference

The upside prevails as long as 33.3518 is support.

Alternative scenario

The downside breakout of 33.3518 would call for 33.2827 and 33.2416.

Comment

The RSI is above 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 33.5242 and 33.5293).

Supports and resistances

33.7639 **

33.7227 *

33.6814 **

33.6401

33.5566 last

33.3789

33.3518 **

33.2827 *

33.2416 **

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