USD/TRY may rise 855 - 1256 pips

Our pivot point stands at 33.8374.

Our preference

The upside prevails as long as 33.8374 is support.

Alternative scenario

Below 33.8374, expect 33.7705 and 33.7306.

Comment

The RSI is above 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 34.0124 and 33.9996).

Supports and resistances

34.2434 **

34.2034 *

34.1634 **

34.1233

34.0378 last

33.8637

33.8374 **

33.7705 *

33.7306 **

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