USD/TRY may rise 795 - 1190 pips

Our pivot point is at 33.8300.

Our preference

The upside prevails as long as 33.8300 is support.

Alternative scenario

The downside breakout of 33.8300 would call for 33.7639 and 33.7245.

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 34.0152 and 34.0061).

Supports and resistances

34.2302 **

34.1907 *

34.1511 **

34.1116

34.0321 last

33.8560

33.8300 **

33.7639 *

33.7245 **

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