USD/TRY may rise 493 - 611 pips

Our pivot point is at 34.1292.

Our preference

The upside prevails as long as 34.1292 is support.

Alternative scenario

Below 34.1292, expect 34.1094 and 34.0977.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 34.1545 and 34.1570).

Supports and resistances

34.2499 **

34.2381 *

34.2263 **

34.2145

34.1652 last

34.1369

34.1292 **

34.1094 *

34.0977 **

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