USD/TRY may rise 655 - 980 pips

Our pivot point is at 32.3809.

Our preference

As long as 32.3809 is support look for 32.5317.

Alternative scenario

The downside breakout of 32.3809 would call for 32.3264 and 32.2939.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 32.4250 and 32.3578).

Supports and resistances

32.5966 **

32.5641 *

32.5317 **

32.4992

32.4337 last

32.4024

32.3809 **

32.3264 *

32.2939 **

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