USD/TRY may rise to 34.6187 - 34.7881

33.8927 is our pivot point.

Our preference

As long as 33.8927 is support look for 34.7881.

Alternative scenario

The downside breakout of 33.8927 would call for 33.6095 and 33.4410.

Comment

The RSI is trading above 70. This could mean that either the pair is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 34.1217 and 33.8976).

Supports and resistances

35.1269 **

34.9575 *

34.7881 **

34.6187

34.2731 last

34.0040

33.8927 **

33.6095 *

33.4410 **

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