USD/TRY may rise 718 - 1043 pips

Our pivot point stands at 32.4249.

Our preference

The upside prevails as long as 32.4249 is support.

Alternative scenario

The downside breakout of 32.4249 would call for 32.3703 and 32.3378.

Comment

The RSI is above its neutrality area at 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 32.4386 and 32.3665).

Supports and resistances

32.6422 **

32.6096 *

32.5771 **

32.5446

32.4728 last

32.4463

32.4249 **

32.3703 *

32.3378 **

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