USD/TRY may rise 704 - 1051 pips

Our pivot point is at 33.9022.

Our preference

As long as 33.9022 is support look for 34.0594.

Alternative scenario

Below 33.9022, expect 33.8438 and 33.8091.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 33.9513 and 33.9346).

Supports and resistances

34.1289 **

34.0941 *

34.0594 **

34.0247

33.9543 last

33.9251

33.9022 **

33.8438 *

33.8091 **

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