USD/TRY may rise 1083 - 1572 pips

Our pivot point stands at 33.7958.

Our preference

The upside prevails as long as 33.7958 is support.

Alternative scenario

Below 33.7958, expect 33.7140 and 33.6653.

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 33.9981 and 33.9895).

Supports and resistances

34.2620 **

34.2131 *

34.1642 **

34.1153

34.0070 last

33.8279

33.7958 **

33.7140 *

33.6653 **

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