USD/TRY may rise 1025 - 1535 pips

Our pivot point stands at 32.6929.

Our preference

Our next up target stands at 32.9687.

Alternative scenario

Below 32.6929, expect 32.6073 and 32.5564.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the price is above its 20 and 50 period moving average (respectively at 32.7913 and 32.8043).

Supports and resistances

33.0708 **

33.0198 *

32.9687 **

32.9177

32.8152 last

32.7265

32.6929 **

32.6073 *

32.5564 **

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