USD/TRY may rise 1039 - 1527 pips

Our pivot point stands at 33.8781.

Our preference

The upside prevails as long as 33.8781 is support.

Alternative scenario

The downside breakout of 33.8781 would call for 33.7961 and 33.7474.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 33.9204 and 33.9114).

Supports and resistances

34.1946 **

34.1458 *

34.0970 **

34.0482

33.9443 last

33.9103

33.8781 **

33.7961 *

33.7474 **

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