USD/TRY may rise 905 - 1320 pips

Our pivot point stands at 33.6418.

Our preference

The upside prevails as long as 33.6418 is support.

Alternative scenario

Below 33.6418, expect 33.5722 and 33.5307.

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 33.6744 and 33.6822). Finally, the USD/TRY is trading above its upper Bollinger band (standing at 33.7055).

Supports and resistances

33.9222 **

33.8808 *

33.8393 **

33.7978

33.7073 last

33.6691

33.6418 **

33.5722 *

33.5307 **

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