USD/TRY may rise 1386 - 2034 pips

Our pivot point stands at 32.8541.

Our preference

The upside prevails as long as 32.8541 is support.

Alternative scenario

The downside breakout of 32.8541 would call for 32.7454 and 32.6806.

Comment

The RSI is above 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 32.9494 and 32.9483).

Supports and resistances

33.3088 **

33.2440 *

33.1791 **

33.1143

32.9757 last

32.8968

32.8541 **

32.7454 *

32.6806 **

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