USD/TRY may rise 832 - 1232 pips

Our pivot point stands at 33.8604.

Our preference

Rebound.

Alternative scenario

The downside breakout of 33.8604 would call for 33.7934 and 33.7535.

Comment

The RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the price stands above its 20 period moving average (34.0484) but below its 50 period moving average (34.0721).

Supports and resistances

34.2661 **

34.2261 *

34.1860 **

34.1460

34.0628 last

33.8867

33.8604 **

33.7934 *

33.7535 **

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