EUR/TRY may rise to 35.8162 - 36.2041

Our pivot point stands at 34.2297.

Our preference

As long as 34.2297 is support look for 36.2041.

Alternative scenario

The downside breakout of 34.2297 would call for 33.5836 and 33.1990.

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 above its 20 and 50 period moving average (respectively at 34.8543 and 34.7989).

Supports and resistances

36.9800 **

36.5920 *

36.2041 **

35.8162

35.0040 last

34.4835

34.2297 **

33.5836 *

33.1990 **

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