USD/TRY may rise 852 - 1175 pips

Our pivot point is at 32.2036.

Our preference

The upside prevails as long as 32.2036 is support.

Alternative scenario

The downside breakout of 32.2036 would call for 32.1493 and 32.1170.

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 32.2371 and 32.2344).

Supports and resistances

32.4597 **

32.4274 *

32.3950 **

32.3627

32.2775 last

32.2249

32.2036 **

32.1493 *

32.1170 **

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