USD/TRY may rise 1316 - 1964 pips

32.8755 is our pivot point.

Our preference

The upside prevails as long as 32.8755 is support.

Alternative scenario

The downside breakout of 32.8755 would call for 32.7667 and 32.7020.

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 32.8880 and 32.8698).

Supports and resistances

33.2887 **

33.2240 *

33.1592 **

33.0944

32.9628 last

32.9183

32.8755 **

32.7667 *

32.7020 **

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