USD/TRY may rise 741 - 1102 pips

Our pivot point stands at 32.0336.

Our preference

Our next up target stands at 32.3258.

Alternative scenario

The downside breakout of 32.0336 would call for 31.9732 and 31.9373.

Comment

The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 32.1993 and 32.2120).

Supports and resistances

32.3979 **

32.3618 *

32.3258 **

32.2897

32.2156 last

32.0573

32.0336 **

31.9732 *

31.9373 **

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