USD/TRY may rise 1002 - 1491 pips

33.8127 is our pivot point.

Our preference

The upside prevails as long as 33.8127 is support.

Alternative scenario

The downside breakout of 33.8127 would call for 33.7309 and 33.6822.

Comment

The RSI is above its neutrality area at 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 33.9964 and 33.9868).

Supports and resistances

34.2655 **

34.2166 *

34.1677 **

34.1188

34.0186 last

33.8449

33.8127 **

33.7309 *

33.6822 **

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