USD/TRY may rise 1011 - 1499 pips

Our pivot point is at 33.7119.

Our preference

As long as 33.7119 is support look for 34.0707.

Alternative scenario

Below 33.7119, expect 33.6304 and 33.5818.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 33.9084 and 33.8829).

Supports and resistances

34.1682 **

34.1194 *

34.0707 **

34.0219

33.9208 last

33.7440

33.7119 **

33.6304 *

33.5818 **

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