USD/TRY may rise 1196 - 1767 pips

Our pivot point stands at 32.7940.

Our preference

The upside prevails as long as 32.7940 is support.

Alternative scenario

The downside breakout of 32.7940 would call for 32.6982 and 32.6411.

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 32.8137 and 32.8158).

Supports and resistances

33.1704 **

33.1133 *

33.0562 **

32.9991

32.8795 last

32.8316

32.7940 **

32.6982 *

32.6411 **

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