EUR/TRY may rise 1034 - 1511 pips

Our pivot point stands at 37.3012.

Our preference

Rebound towards 37.5430.

Alternative scenario

The downside breakout of 37.3012 would call for 37.2211 and 37.1734.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (37.3836) but under its 50 period moving average (37.4256).

Supports and resistances

37.6384 **

37.5907 *

37.5430 **

37.4953

37.3919 last

37.3327

37.3012 **

37.2211 *

37.1734 **

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