USD/TRY may rise 276 - 394 pips

34.2239 is our pivot point.

Our preference

As long as 34.2239 is support look for 34.2900.

Alternative scenario

Below 34.2239, expect 34.2041 and 34.1923.

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 pair is trading under its 20 period moving average (34.2555) but above its 50 period moving average (34.2445).

Supports and resistances

34.3136 **

34.3018 *

34.2900 **

34.2782

34.2506 last

34.2317

34.2239 **

34.2041 *

34.1923 **

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