USD/TRY may rise 910 - 1324 pips

Our pivot point stands at 33.4436.

Our preference

The upside prevails as long as 33.4436 is support.

Alternative scenario

The downside breakout of 33.4436 would call for 33.3744 and 33.3332.

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 33.6185 and 33.5935).

Supports and resistances

33.8540 **

33.8126 *

33.7712 **

33.7298

33.6388 last

33.4708

33.4436 **

33.3744 *

33.3332 **

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