USD/TRY may rise 1124 - 1612 pips

Our pivot point stands at 33.8574.

Our preference

The upside prevails as long as 33.8574 is support.

Alternative scenario

The downside breakout of 33.8574 would call for 33.7755 and 33.7268.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 33.9092 and 33.9096).

Supports and resistances

34.1824 **

34.1336 *

34.0848 **

34.0360

33.9236 last

33.8896

33.8574 **

33.7755 *

33.7268 **

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