USD/TRY may rise 341 - 496 pips

Our pivot point stands at 34.2468.

Our preference

The upside prevails as long as 34.2468 is support.

Alternative scenario

Below 34.2468, expect 34.2208 and 34.2053.

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 34.2602 and 34.2678).

Supports and resistances

34.3521 **

34.3366 *

34.3211 **

34.3056

34.2715 last

34.2571

34.2468 **

34.2208 *

34.2053 **

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