USD/TRY may rise 502 - 747 pips

Our pivot point stands at 34.2259.

Our preference

The upside prevails as long as 34.2259 is support.

Alternative scenario

Below 34.2259, expect 34.1848 and 34.1604.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 34.2759 and 34.2357).

Supports and resistances

34.4167 **

34.3922 *

34.3678 **

34.3433

34.2931 last

34.2420

34.2259 **

34.1848 *

34.1604 **

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