USD/TRY may rise 1030 - 1519 pips

33.8237 is our pivot point.

Our preference

The upside prevails as long as 33.8237 is support.

Alternative scenario

The downside breakout of 33.8237 would call for 33.7419 and 33.6932.

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 trading above both its 20 and 50 period moving average (respectively at 34.0019 and 34.0029).

Supports and resistances

34.2743 **

34.2253 *

34.1764 **

34.1275

34.0245 last

33.8559

33.8237 **

33.7419 *

33.6932 **

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