EUR/TRY may fall 1626 - 2299 pips

Our pivot point is at 34.9545.

Our preference

As long as 34.9545 is resistance look for 34.6300.

Alternative scenario

The upside breakout of 34.9545, would call for 35.0677 and 35.1350.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and above its signal line. The break above the 50 area on the RSI would call for further upside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 34.8664 and 34.8620).

Supports and resistances

35.1350 **

35.0677 *

34.9545 **

34.9101

34.8599 last

34.6973

34.6300 **

34.5627 *

34.4954 **

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