USD/TRY may rise 838 - 1253 pips

Our pivot point stands at 33.5619.

Our preference

As long as 33.5619 is support look for 33.8195.

Alternative scenario

Below 33.5619, expect 33.4925 and 33.4511.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 33.6804 and 33.6447).

Supports and resistances

33.9024 **

33.8609 *

33.8195 **

33.7780

33.6942 last

33.5892

33.5619 **

33.4925 *

33.4511 **

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