USD/TRY may rise 826 - 1221 pips

Our pivot point stands at 33.9723.

Our preference

The upside prevails as long as 33.9723 is support.

Alternative scenario

The downside breakout of 33.9723 would call for 33.9059 and 33.8663.

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 34.0114 and 34.0055).

Supports and resistances

34.2279 **

34.1884 *

34.1488 **

34.1093

34.0267 last

33.9984

33.9723 **

33.9059 *

33.8663 **

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