EUR/TRY may rise to 36.2171 - 36.6906

Our pivot point stands at 34.3959.

Our preference

The upside prevails as long as 34.3959 is support.

Alternative scenario

The downside breakout of 34.3959 would call for 33.6062 and 33.1361.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 34.9862 and 34.8510).

Supports and resistances

37.6375 **

37.1641 *

36.6906 **

36.2171

35.0711 last

34.7061

34.3959 **

33.6062 *

33.1361 **

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