USD/TRY may rise 718 - 1066 pips

Our pivot point is at 33.8133.

Our preference

The upside prevails as long as 33.8133 is support.

Alternative scenario

Below 33.8133, expect 33.7551 and 33.7205.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 33.9563 and 33.9316). Finally, the USD/TRY is trading above its upper Bollinger band (standing at 34.0080).

Supports and resistances

34.1864 **

34.1516 *

34.1168 **

34.0820

34.0102 last

33.8361

33.8133 **

33.7551 *

33.7205 **

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