USD/TRY may rise 879 - 1294 pips

Our pivot point stands at 33.6984.

Our preference

As long as 33.6984 is support look for 33.9014.

Alternative scenario

The downside breakout of 33.6984 would call for 33.6287 and 33.5871.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 33.7624 and 33.7451).

Supports and resistances

33.9845 **

33.9430 *

33.9014 **

33.8599

33.7720 last

33.7258

33.6984 **

33.6287 *

33.5871 **

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