USD/TRY may rise to 34.4779 - 34.5852

33.9411 is our pivot point.

Our preference

As long as 33.9411 is support look for 34.5852.

Alternative scenario

The downside breakout of 33.9411 would call for 33.7617 and 33.6549.

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 price is trading above both its 20 and 50 period moving average (respectively at 34.2112 and 34.0622).

Supports and resistances

34.7999 **

34.6926 *

34.5852 **

34.4779

34.2591 last

34.0115

33.9411 **

33.7617 *

33.6549 **

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