USD/TRY may rise 331 - 449 pips

Our pivot point stands at 34.1667.

Our preference

The upside prevails as long as 34.1667 is support.

Alternative scenario

Below 34.1667, expect 34.1469 and 34.1351.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 34.1764 and 34.1552).

Supports and resistances

34.2961 **

34.2843 *

34.2725 **

34.2607

34.2276 last

34.1744

34.1667 **

34.1469 *

34.1351 **

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