USD/TRY may rise 1089 - 1592 pips

Our pivot point stands at 32.1579.

Our preference

The upside prevails as long as 32.1579 is support.

Alternative scenario

The downside breakout of 32.1579 would call for 32.0737 and 32.0236.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 32.3375 and 32.3498).

Supports and resistances

32.6254 **

32.5751 *

32.5248 **

32.4745

32.3656 last

32.1909

32.1579 **

32.0737 *

32.0236 **

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