USD/TRY may rise 405 - 558 pips

Our pivot point stands at 34.2617.

Our preference

The upside prevails as long as 34.2617 is support.

Alternative scenario

Below 34.2617, expect 34.2360 and 34.2208.

Comment

The RSI is above 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 34.2620 and 34.2534).

Supports and resistances

34.3713 **

34.3561 *

34.3408 **

34.3255

34.2850 last

34.2717

34.2617 **

34.2360 *

34.2208 **

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