USD/TRY may rise 1016 - 1505 pips

Our pivot point is at 33.9322.

Our preference

The upside prevails as long as 33.9322 is support.

Alternative scenario

Below 33.9322, expect 33.8501 and 33.8012.

Comment

The RSI is above its neutrality area at 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 33.9690 and 33.9361).

Supports and resistances

34.2449 **

34.1961 *

34.1472 **

34.0983

33.9967 last

33.9645

33.9322 **

33.8501 *

33.8012 **

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