USD/TRY may fall 1693 - 1810 pips

Our pivot point is at 34.2093.

Our preference

As long as 34.2093 is resistance look for 33.9998.

Alternative scenario

Above 34.2093, look for 34.2291 and 34.2408.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and above its signal line. The break above the 50 area on the RSI should trigger further gains. Moreover, the price is trading above its 20 period moving average (34.1795) but under its 50 period moving average (34.1873).

Supports and resistances

34.2408 **

34.2291 *

34.2093 **

34.2015

34.1808 last

34.0115

33.9998 **

33.9881 *

33.9764 **

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