USD/TRY may rise 501 - 746 pips

Our pivot point is at 34.2563.

Our preference

As long as 34.2563 is support look for 34.3679.

Alternative scenario

The downside breakout of 34.2563 would call for 34.2152 and 34.1908.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 34.2793 and 34.2389).

Supports and resistances

34.4168 **

34.3923 *

34.3679 **

34.3434

34.2933 last

34.2725

34.2563 **

34.2152 *

34.1908 **

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