USD/TRY may rise 281 - 399 pips

Our pivot point is at 34.0745.

Our preference

The upside prevails as long as 34.0745 is support.

Alternative scenario

Below 34.0745, expect 34.0548 and 34.0430.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 34.2242 and 34.2345).

Supports and resistances

34.3038 **

34.2920 *

34.2802 **

34.2684

34.2403 last

34.0822

34.0745 **

34.0548 *

34.0430 **

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