USD/TRY may rise 1053 - 1540 pips

Our pivot point stands at 33.6910.

Our preference

As long as 33.6910 is support look for 34.0536.

Alternative scenario

Below 33.6910, expect 33.6095 and 33.5609.

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 pair is trading under its 20 period moving average (33.9045) but above its 50 period moving average (33.8730).

Supports and resistances

34.1511 **

34.1023 *

34.0536 **

34.0049

33.8996 last

33.7230

33.6910 **

33.6095 *

33.5609 **

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