USD/TRY may rise 533 - 777 pips

Our pivot point stands at 34.2013.

Our preference

The upside prevails as long as 34.2013 is support.

Alternative scenario

Below 34.2013, expect 34.1604 and 34.1360.

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 34.2254 and 34.2220).

Supports and resistances

34.3991 **

34.3747 *

34.3503 **

34.3259

34.2726 last

34.2174

34.2013 **

34.1604 *

34.1360 **

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